KEY POINTSBanks have passed on the increased borrowing costs through higher loan rates, which are now hovering between 4% and 5% and on track to rise further. Australian homeowner Lili Zhang said her repayments will soon double to about A$16,000 a month and she is worried. Australia’s house prices are among the highest in the world and according to the latest Demographia international housing affordability report for 2022, Sydney ranked second after Hong Kong as the least affordable city globally. Melbourne is in fifth position. SYDNEY — In a country where real estate ownership dominates barbecue conversations and dinner parties, Australian Lili Zhang is like many homeowners.While she has a healthy portfolio of properties, she is now facing the biggest threat to her investment, rising interest rates. CNBC.com