Shocking third of Australian homeowners will feel mortgage pressure by 2026 – realestate.com.au

More than a third of homeowners are having difficulty paying their mortgage at the start of the new year, new research shows.

Data from Finder’s latest Consumer Sentiment Tracker shows that as of 2023, more than 30 percent of homeowners say they are having trouble paying their loans.

The total is currently 35 percent, consistent with previous January periods: 36 percent in 2025, 37 percent in 2024 and 34 percent in 2023.

But in 2022 this number was more than 10 percent smaller than now, namely only 24 percent.

Finder head of consumer research Graham Cooke said this statistic was part of the company’s cost-of-living gauge, which has “decreased a bit” from 2025 onwards.

“Things are starting to soften now that the Reserve Bank of Australia (RBA) has started cutting cash rates,” he said. “If we get another increase in the cash rate, I think it will rise again quickly.

“Once interest rates rise, I think people will start to worry… all eyes are on the RBA.”

Finder head of consumer research Graham Cooke said that while pressure on the cost of living had eased since the last rate cut, pressure would rise again with another rate hike.

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Finder’s research also found that 36 percent of Aussies who had yet to buy a home said they didn’t think they would ever be able to afford one.

This is the highest figure in the past five years, with only 22 percent in 2020.

Meanwhile, 12 per cent of Aussies with a mortgage in January said they had missed at least one repayment in the past six months.

Struggles against the cost of living have remained high since 2020, with more than a tenth of Aussies saying they had missed at least one mortgage payment in the past six months.

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The data was released alongside the winners of Finder’s Home Loans Awards 2026, who gave their list of the best lending options for prospective homebuyers.

Mr Cooke said costs accounted for 85 per cent of the final score; with the remaining 15 percent assessing additional features, such as whether the product has an offset account.

“If you’re looking for a home loan, there’s a lot of information you need to consider for each product,” he said. “So what we’re trying to do is take this information into consideration for you.

“The results of these awards will give you two or three products to start your search.”

Finder’s research coincides with the publication of their Home Loans Awards 2026, which provides homebuyers with recommendations for the loan that best suits them.

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The best home loan for starters on the housing market went to Up, together with the variable home loan with consideration.

Unloan scored the three awards for their offering, including the best value home loan for owner-occupiers.

Two provider of the year awards were presented to Macquarie Bank for their overall home loans and their investor home loans.

“We select each category based on who the home is available to,” Cooke said.

“It doesn’t necessarily mean this is the best product for anyone who is a first-time home buyer; that’s just our definition of what they’re looking for.”

Up received the award for Best Home Loan for First Home Buyers, and Unloan scored the award for Best Home Loan for Owner-Occupants.

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View a list of the prizes and their winners here:

Finder Home Loan Awards 2026

First Home Buyer: Up

Home loan value: Borrow

Owner-occupier P&I variable: Derived

Variable with offset: up

Refinancing variable: Unloan

Major bank refinancing variable: Suncorp

Owner-occupier permanent for one year: Hume Bank

P&I variable for investors: Easy Street

Investor IO variable: Police credit

P&I investor fixed for one year: Hume Bank

IO investor fixed for a year: Capricorn

Major home lender: Macquarie Bank

Client’s housing provider: Easy Street

Owner-occupier permanent home lender: Macquarie Bank

Permanent home lender investor: Newcastle Permanent

Macquarie Bank was determined to become the number one provider of the year, in terms of total home loans.

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Provider of the Year Awards 2026

Home Loans: Macquarie Bank

Home Loans for Investors: Macquarie Bank

Own home loans: ING