Australians are turning to Google for mortgage help in unprecedented numbers, with search data revealing the financial strain of three successive rate hikes is driving a surge in demand for broker services.
Google Trends data shows searches for "mortgage broker" in Australia have reached their highest point ever, surpassing the previous record set in April 2020 during the early COVID lockdowns. Searches for "mortgage stress" peaked in May, while queries for "mortgage help" have exceeded levels recorded during the 2008–09 Global Financial Crisis, SkyNews.com.au reported.
The surge comes as the cash rate has returned to 4.35% — returning to the level held for most of 2024–25 before last year's cuts — following three hikes since the start of 2026, reversing all of last year's rate relief in a matter of months.
The search data is consistent with hard survey evidence. Roy Morgan's March research found 26.8% of mortgage holders — equivalent to 1,447,000 Australians — are now at risk of mortgage stress, up 1.9 percentage points from February. Modelling warns that figure could reach 30.9%, or 1,666,000 mortgage holders, if RBA raises rates at both its May and June meetings.
Finance Brokers Association of Australia chief executive Peter White said the search spike reflects a shift in borrower behaviour, with more mortgage holders actively reassessing their options.
"There is an uptick in the inquiries leading into refinancing as rates move," White told Sky News. "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."
The three rate hikes this year have added $272 per month to repayments for an owner-occupier with 25 years remaining on a $600,000 loan, according to Canstar data. Money markets are pricing in at least one more hike before year end, with Westpac forecasting two.
White was direct about the pressure facing households.
"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 pressure, fuel increases that then impacts all through the retail chains and outlets," he said. "That is where people are feeling the bite and I don't think there's much stretch left in the rubber band."
Data from comparison site Finder, published before the third rate hike, found 9% of mortgage holders — equivalent to 297,000 people — said they would not be able to service their loan if faced with two more rate rises. Finder money and home loans expert Richard Whitten said the findings laid bare how little room borrowers have left.
"Many Australians are walking a financial tightrope and it wouldn't take much to tip them over," 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."
That limit is being tested from multiple directions. Inflation is currently running at 4.6% — well above the RBA's 2–3% target band — with trimmed mean inflation at 3.3%, indicating the underlying price pressure is not simply a fuel-driven spike.
For brokers, the record search volumes represent a clear signal: clients are actively looking for help, and the window to reach stretched borrowers before their situation deteriorates is open right now.
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