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At its april meeting today, the Reserve Bank of Australia (RBA) decided to leave the official cash rate unchanged at 1.5 per cent. While the RBA decided to leave the official cash rate on hold for the 18th consecutive month, quite a few lenders raised their home loan interest rates last month – some by as much as 0.05% p.a.
Home loan arrears highest in years, but no worries, says RBA By Sophie Foster news.com.au – The Reserve Bank had a typically Australian response to home loan arrears rising today – no worries – thanks to the phenomenal chunk of Aussies blitzing mortgages ahead of schedule.
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Pat yourself on the back Australia: The Reserve Bank had a typically Aussie response to home loan arrears rising today – no worries – thanks to the actions of your neighbours.
“Housing arrears have risen, but by no. loans, which also include credit card and personal debt, are more than 90 days overdue, according to RBA data. Australians amassed one of the world’s highest.
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RBA head of financial stability Jonathan Kearns told a property summit in Canberra that the number of people in arrears on their home loans was increasing. prices and the high level of debt. The.
The rise in Australians falling behind on home. on mortgage payments has reached levels last seen in 2010, the highest for many years. Yet Jonathan Kearns, head of the Reserve Bank of Australia’s.
S&P: Australians are starting to fall behind on their mortgage repayments. "Regional banks recorded the highest arrears of all originator types, reaching 2.15% in February, up from 2.04% a month earlier. The nonbank financial institutions meanwhile recorded the lowest arrears of all originator types, at 0.76%, up from 0.75% in January".