Shock new data has revealed the immense burden that rate hikes, soaring inflation and home loan repayments are having on embattled households.

Australians have been delivered three rate hikes since the beginning of 2026, reversing all the cuts delivered last year.

This brings the cash rate back to 4.35 per cent where it was held for almost a year and a half to tackle post-pandemic inflation.

Google data reveals that searches for “mortgage broker” in Australia are at their highest point on record, exceeding the previous high-point of April 2020.

Meanwhile, searches for the term “mortgage stress” hit its peak in May.

There were more people searching for “mortgage help” than during the 2008-09 Global Financial Crisis and during the early months of the Covid-19 lockdowns in 2020.

The number of Australian Google users lifted from 10.7 million in 2009 to about 24 million in 2026.

Finance Brokers Association of Australia chief executive Peter White said there was an increase in mortgage holders reconsidering their options.

“There is an uptick in the inquiries leading into refinancing as rates move,” Mr White told SkyNews.com.au.

“It’s quite a normal thing that happens but in the current environment people are looking to see what the next best deal is available to them in the marketplace.”

He warned of more pain for mortgage holders as further rate rises loomed amid a sticky inflation environment.

“People are very stretched in what their obligations are at the moment and it’s not just interest rates but it’s cost of living and (inflation) pressure (and), fuel increases that then impacts all through the retail chains and outlets,” Mr White said.

“That is where people are feeling the bite and I don’t think there’s much stretch left in the rubber band.”

The RBA’s three rate hikes will add $272 per month to repayments for an owner-occupier with 25 years remaining on their $600,000 loan, according to Canstar.

Money markets are anticipating at least one more rate hike before the end of 2026 while Westpac forecasts two.

Further data from comparison site Finder, published before the third rate hike, revealed nine per cent of mortgage holders would not be able to service their loan if they faced two more rate rises.

This equates to 297,000 mortgage holders who said they would default on their loan under the pressure of more rate rises.

Finder’s money and home loans expert Richard Whitten said this revealed how severely mortgage stress was escalating.

“Many Australians are walking a financial tightrope and it wouldn’t take much to tip them over,” Mr Whitten said.

“This research reveals how little buffer many households have left.

“When you consider how persistently high the cost of living has been over many years, it’s no surprise so many borrowers are nearing their limit again.”

Increased mortgage stress comes as inflation sits at 4.6 per cent, well above the Reserve Bank of Australia’s 2-3 per cent target band.

The fuel crisis has pushed the headline rate up, but trimmed mean inflation – the middle 70 per cent of price changes – is also high at 3.3 per cent.

Mr White said the combination of high inflation and soaring interest rates made many Australians more focused on their home loan.

“Times are difficult for the majority of people and everybody is looking very closely at these circumstances to see where they can either get a better deal or how they best manage with what they have in front of them,” he said.