Australia's household debt to disposable income increased to 1.87x in March 2022.
Of course, the use of offset accounts has ballooned over recent years too.
In fact, partly as a result of this, the ratio of interest payments to disposable income fell to the lowest level since 1994 in Q1, at 4.36 per cent.
There's also less credit card debt around now as household savings have surged.
And, of course, the average mortgage rate on outstanding loans has continued to decline, thanks to the refinancing of existing loans on higher rates.
Mortgage rates are now on the rise, so this should be the cycle lows for interest payments.
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Lots of data commodities and inflation figures over the past couple of days pointing to inflation peaking out.
A few charts...
Pivot incoming!
