New data shows the highest number of mortgage holders are falling behind on their payments in 8 years, with credit rating agency Fitch pointing the finger at the Reserve Bank’s interest rate hikes. And given inflation is going in the wrong direction – rising to 4% in May, up from 3.6% in April – mortgagees probably won’t feel much relief anytime soon, particularly if we see another rate rise. The Coalition’s Home Affairs spokesman James Paterson criticised the Albanese Government yesterday, saying it had “let loose the purse strings”. Finance Minister Katy Gallagher denied that, saying although “inflation is remaining higher than we would like”, it isn’t unusual to see “a bit of movement up and down”. In the meantime, the stage 3 tax cuts, which kick in on Monday, might provide some relief – but the jury’s out on what impact it will have on inflation…