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How high will my mortgage repayments be?

by Chris Lang on September 24, 2007

Another useful piece of information I found in the Census 2006 is the mortgage repayments statistics. Basically it tells us what we should expect to be paying on monthly bases. So the numbers are saying that the majority of the people who bought a house on mortgage are paying from $1050 to $2400 a month. In that range the most common repayments were broken into 5 groups:

1) $1,050–$1,199 a month
2) $1,200–$1,399 a month
3) $1,400–$1,599 a month
4) $1,600–$1,999 a month
5) $2,000–$2,399 a month

Within those 5 groups, most of the people (27 %) are paying from $1600 to $1999 a month, and the next most common payments are $1200 – $1399 and $1400 – $1599 a month: 20 % and 21 % of people respectively are paying that much. The highest and the lowest repayments are the least common – just 18% of people pay as much as $2,000–$2,399 a month and only 14 % pay as little as $1,050–$1,199 a month.

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