Mortgage News Recap
Sunday, September 30th, 2007The weekly recap of mortgage, home loan and housing news in Australia.
The top stories for the week ending 30/09/07:
Much ado about mortgage stress
The Australian
The Australian provides coverage on the recent speech by the Deputy Governor of the Reserve Bank, Ric Battelino, pointing out that while there may be pockets of mortgage stress, only 0.41 per cent of all mortgages are in arrears past 90 days. Moreover, household debt is largely being fueled not by people in danger of having their houses repossessed but by older, high-income earners who have the money to meet repayments. The article delves into the speech, and recent data, to shine a light on some of the political spin and myths currently being touted.
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