Mortgage belt

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The Mortgage belt is a term used in Australian politics to signify residential suburbs which have a high concentration of families mortgaging their homes.

Often the belt covers areas where homes could be considered more affordable yet the cost of servicing the mortgage loan represents a high proportion of the families' available income. Changes to cost of servicing a mortgage, seen through interest rate fluctuations, can trigger widespread satisfaction or dissatisfaction towards the government of the day.