“It shows that many people took advantage of interest rates when they were at historic lows. They likely retained their repayments at the same level as before, or increased them, to help repay their loans faster and save on the overall loan cost. It also means that nearly half the people with home loans had built in a buffer that has effectively cushioned the impact of higher interest rates, which we’re now seeing. It’s a double win for them,” Beaumont said.