There’s no reason why Australian lenders couldn’t offer 30-year fixed-rate mortgages, as they do in the US.
UNSW Business School is investigating how people decide whether a reverse mortgage is a good way to supplement their retirement income.
The number of mortgage brokers providing a money-saving service to consumers could fall under changes recommended by the banking royal commission, says Mark Humphrey-Jenner of UNSW Business School.
The Australian housing market is now in a shallow decline, but the issue of interest only mortagages could still send it off a cliff.
