Most Australian mortgage holders on track with loan repayments despite high interest rates, RBA official reveals
by Peter Hannam from Economics | The Guardian on (#6GZT0)
Number of borrowers in severe financial stress' has risen but most showing resilience, Reserve Bank's Andrea Brischetto says
- Follow our Australia news live blog for latest updates
- Get our morning and afternoon news emails,free app or daily news podcast
Most of Australia's mortgage holders have been able to adjust to higher interest rates, with close to 99%" of loans remaining on or ahead of repayment schedules, according to the head of the Reserve Bank's financial stability unit.
In a speech in Sydney on Friday, Andrea Brischetto said that while the number of borrowers in severe financial stress" had risen, most had been resilient and even in the case of an economic downturn, this is likely to remain the case".
Continue reading...