--- title: "21243 – Mortgage Cost Pressure" url: https://australianproperty.network/apn-codex/series-20000/series-21000/series-21200/series-21240/21243-mortgage-cost-pressure/ date: 2026-10-05 modified: 2026-10-05 lang: en author: "Nicklas Clark" description: "APN Codex Node 21243 21240 — Household Finance & Spending Certified Mortgage Cost Pressure Z-Score−0.1644σPeriodQ2 2026Position40.7 of 109 qtrsVintage2026-Q4 1Node Definition Mortgage Cost Pressure (21243) measures whether the mortgage interest..." word_count: 811 --- # 21243 – Mortgage Cost Pressure - APN Codex Node 21243 21240 — Household Finance & Spending Certified ### Mortgage Cost Pressure Z-Score−0.1644σPeriodQ2 2026Position40.7 of 109 qtrsVintage2026-Q4 1Node Definition Mortgage Cost Pressure (21243) measures whether the mortgage interest that employee households pay is rising faster than their living costs as a whole: growth over the year in their mortgage interest charges less growth over the year in their overall living costs, in percentage points. Higher readings mean mortgage costs are outpacing living costs. It is read alongside Debt-Servicing Burden (21242), which reads the level of repayments against income. Known limitations Both inputs are ABS Selected Living Cost Indexes for employee households, those whose main source of income is wages and salaries. The mortgage interest index moves with interest rates and with the size of the average loan, so it can change sharply: the gap ranges from −32.48 points (September 2009) to +81.96 points (June 2023), and during the 2022–23 tightening the node reached +3.91σ. Both inputs are original series; growth over the year removes their seasonal pattern. 2Metric Definition **Primary metric: Node Z-Score (Z21243)** Z-Score Construction Current (Q2 2026)−0.1644σ MtMortgage interest charges index, employee households, quarter t. Rose 2.77% in the year to June 2026 AtAll-groups living cost index, employee households, quarter t. Rose 3.69% in the year to June 2026 μ, σBaseline mean and sample standard deviation, 2011–2025 (+2.42 and 20.34 points, 60 quarters) **Metric typology:** single-series Z-score of a growth gap. 3Data Sources | Input | Source | Frequency | Coverage | | ----- | ------ | --------- | -------- | | Mortgage interest charges, employee households | ABS Selected Living Cost Indexes, Australia (6467.0), A4083404X, original | Quarterly | June quarter 1998 to June quarter 2026 | | All groups, employee households | ABS Selected Living Cost Indexes, Australia (6467.0), A4083524T, original | Quarterly | June quarter 1998 to June quarter 2026 | Tier-1 sovereign statistical releases. No commercial data provider dependency exists within this node. 4Reading History The chart shows the node’s reading in every quarter, measured against the 2011–2025 baseline. Mortgage Cost Pressure (21243) · Reading HistoryNode Z-Score by Quarter, March 2011 to June 2026−0.1644σ · position 40.7, ranked against 109 quarters**Reading, ranked quarters**Normal range (middle 80% of ranked quarters)**Current readingThe June quarter 2026 reading, −0.1644σ, ranks 40.7 against 109 quarters and sits inside the normal range of −0.7922σ to +0.8722σ. The highest ranked reading was +3.9105σ in the June quarter 2023, and the lowest −1.7160σ in the September quarter 2009. Show the data | Quarter | Reading | Basis | | ------- | ------- | ----- | | Q2 1999 | −0.1586σ | Ranked | | Q3 1999 | −0.1678σ | Ranked | | Q4 1999 | −0.1299σ | Ranked | | Q1 2000 | +0.1805σ | Ranked | | Q2 2000 | +0.2259σ | Ranked | | Q3 2000 | +0.8718σ | Ranked | | Q4 2000 | +0.9913σ | Ranked | | Q1 2001 | +0.7046σ | Ranked | | Q2 2001 | −0.0034σ | Ranked | | Q3 2001 | −0.6499σ | Ranked | | Q4 2001 | −0.9723σ | Ranked | | Q1 2002 | −0.9385σ | Ranked | | Q2 2002 | −0.5808σ | Ranked | | Q3 2002 | −0.0963σ | Ranked | | Q4 2002 | +0.2340σ | Ranked | | Q1 2003 | +0.2460σ | Ranked | | Q2 2003 | +0.6098σ | Ranked | | Q3 2003 | +0.2785σ | Ranked | | Q4 2003 | +0.3157σ | Ranked | | Q1 2004 | +0.6670σ | Ranked | | Q2 2004 | +0.7091σ | Ranked | | Q3 2004 | +0.7069σ | Ranked | | Q4 2004 | +0.6461σ | Ranked | | Q1 2005 | +0.3135σ | Ranked | | Q2 2005 | +0.3697σ | Ranked | | Q3 2005 | +0.3214σ | Ranked | | Q4 2005 | +0.2089σ | Ranked | | Q1 2006 | +0.2565σ | Ranked | | Q2 2006 | +0.0788σ | Ranked | | Q3 2006 | +0.2173σ | Ranked | | Q4 2006 | +0.5074σ | Ranked | | Q1 2007 | +0.5567σ | Ranked | | Q2 2007 | +0.5783σ | Ranked | | Q3 2007 | +0.5847σ | Ranked | | Q4 2007 | +0.4070σ | Ranked | | Q1 2008 | +0.5330σ | Ranked | | Q2 2008 | +0.8470σ | Ranked | | Q3 2008 | +0.6886σ | Ranked | | Q4 2008 | +0.4122σ | Ranked | | Q1 2009 | −0.4430σ | Ranked | | Q2 2009 | −1.6532σ | Ranked | | Q3 2009 | −1.7160σ | Ranked | | Q4 2009 | −1.5134σ | Ranked | | Q1 2010 | −0.7784σ | Ranked | | Q2 2010 | +0.9210σ | Ranked | | Q3 2010 | +1.2319σ | Ranked | | Q4 2010 | +1.1362σ | Ranked | | Q1 2011 | +0.8085σ | Ranked | | Q2 2011 | +0.3660σ | Ranked | | Q3 2011 | +0.1454σ | Ranked | | Q4 2011 | +0.0509σ | Ranked | | Q1 2012 | −0.2757σ | Ranked | | Q2 2012 | −0.3371σ | Ranked | | Q3 2012 | −0.6591σ | Ranked | | Q4 2012 | −0.7622σ | Ranked | | Q1 2013 | −0.7692σ | Ranked | | Q2 2013 | −0.7760σ | Ranked | | Q3 2013 | −0.6698σ | Ranked | | Q4 2013 | −0.7361σ | Ranked | | Q1 2014 | −0.5420σ | Ranked | | Q2 2014 | −0.4730σ | Ranked | | Q3 2014 | −0.2489σ | Ranked | | Q4 2014 | −0.0330σ | Ranked | | Q1 2015 | −0.0646σ | Ranked | | Q2 2015 | −0.2498σ | Ranked | | Q3 2015 | −0.3619σ | Ranked | | Q4 2015 | −0.3695σ | Ranked | | Q1 2016 | −0.2259σ | Ranked | | Q2 2016 | −0.0875σ | Ranked | | Q3 2016 | −0.1932σ | Ranked | | Q4 2016 | −0.3733σ | Ranked | | Q1 2017 | −0.4572σ | Ranked | | Q2 2017 | −0.4227σ | Ranked | | Q3 2017 | −0.1427σ | Ranked | | Q4 2017 | +0.0012σ | Ranked | | Q1 2018 | −0.0565σ | Ranked | | Q2 2018 | −0.0604σ | Ranked | | Q3 2018 | −0.1344σ | Ranked | | Q4 2018 | −0.0885σ | Ranked | | Q1 2019 | −0.0740σ | Ranked | | Q2 2019 | −0.1049σ | Ranked | | Q3 2019 | −0.4743σ | Ranked | | Q4 2019 | −0.7448σ | Ranked | | Q1 2020 | −0.8711σ | Ranked | | Q2 2020 | −0.9207σ | Ranked | | Q3 2020 | −0.9398σ | Ranked | | Q4 2020 | −0.8475σ | Ranked | | Q1 2021 | −0.8559σ | Ranked | | Q2 2021 | −0.9070σ | Ranked | | Q3 2021 | −0.6469σ | Ranked | | Q4 2021 | −0.6208σ | Ranked | | Q1 2022 | −0.5715σ | Ranked | | Q2 2022 | −0.3805σ | Ranked | | Q3 2022 | +0.7924σ | Ranked | | Q4 2022 | +2.4411σ | Ranked | | Q1 2023 | +3.2937σ | Ranked | | Q2 2023 | +3.9105σ | Ranked | | Q3 2023 | +2.8156σ | Ranked | | Q4 2023 | +1.5268σ | Ranked | | Q1 2024 | +1.2965σ | Ranked | | Q2 2024 | +0.8740σ | Ranked | | Q3 2024 | +0.5773σ | Ranked | | Q4 2024 | +0.4072σ | Ranked | | Q1 2025 | +0.1424σ | Ranked | | Q2 2025 | −0.0214σ | Ranked | | Q3 2025 | −0.3514σ | Ranked | | Q4 2025 | −0.5470σ | Ranked | | Q1 2026 | −0.5600σ | Ranked | | Q2 2026 | −0.1644σ | Ranked | Z-Score−0.1644σQ2 2026Position40.7ranked against 109 quartersMortgage interest charges+2.77%year to June 2026Living costs+3.69%year to June 2026Gap−0.92 pointsbaseline average +2.42June quarter alone+8.18%mortgage interest charges 5Analytical Interpretation At −0.1644σ (Q2 2026), employee households’ mortgage interest charges rose 2.77% over the year to June 2026, slightly less than their living costs overall (3.69%), a gap of −0.92 points. **Position.** 40.7, ranked against 109 quarters since June 1999. The gap had been negative since September 2025, reaching −8.97 points in March 2026, after the cash rate was reduced from 4.35% to 3.60% between February and September 2025. The cash rate rose again from February 2026, to 4.35% by June, and mortgage interest charges rose 8.18% in the June quarter alone, bringing the annual gap back close to zero. The largest gap on record was +81.96 points in the June quarter 2023, during the 2022–23 tightening, when mortgage interest charges almost doubled within a year. 6Related Nodes The other household burden nodes and the household finance node beside them. [21241 →Household LeverageFour-quarter change in housing debt to income. Q2 2026: +0.6894σ, 49.7 of 148 quarters.](https://australianproperty.network/apn-codex/series-20000/series-21000/series-21200/series-21240/21241-household-leverage/)[21242 →Debt-Servicing BurdenScheduled housing loan repayments as a share of disposable income. Q1 2026: +1.4335σ, 86.8 of 69 quarters.](https://australianproperty.network/apn-codex/series-20000/series-21000/series-21200/series-21240/21242-debt-servicing-burden/)[21240 →Household Finance & SpendingLending composition, discretionary spending and the high debt-to-income share of new lending. Q2 2026: −0.4375σ.](https://australianproperty.network/apn-codex/series-20000/series-21000/series-21200/series-21240/)[Parent index →21200 — Economic Factors (APN Aggregate Macro-Volatility Index™)](https://australianproperty.network/apn-codex/series-20000/series-21000/series-21200/) 7Certification Statement APN Codex Node 21243 — Mortgage Cost Pressure — Certified Both inputs are sourced from Tier-1 sovereign statistical releases (ABS)- The Z-score of −0.1644σ (Q2 2026) is derived directly from the inputs against the 2011–2025 baseline, not manually entered or estimated- The position is an empirical percentile rank against 109 quarters- The wide range of the mortgage interest index and the employee-household scope are disclosed- No commercial data provider dependency exists within this node **Certified:** 5 October 2026 **Source tier:** Tier-1 sovereign statistical agency (ABS) ##### Node Parameters Node21243 Series21200 StatusCertified Z-Score−0.1644σ Position40.7 of 109 qtrs PeriodQ2 2026 Vintage2026-Q4 Baseline μ+2.42 pts Baseline σ20.34 Baseline N60