The 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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The weekly recap of mortgage, home loan and housing news in Australia.

The top stories for the week ending 23/09/07:

Houses lost because of too much bad debt
News.com.au
Peter Jean reports that families are losing their homes as mortgagee repossessions rise after over-burdening themselves with debt to pay for goods such as flat screen televisions. As per the article there were 2720 court applications for repossession of properties whose owners defaulted on mortgage repayments in Victoria in the year to June.

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The US sub-prime mortgage collapse continues to rattle financial markets across the globe and speculation of a US recession seems to be growing. Effects have been immediately felt here in Australia with mortgage lenders finding it more difficult to source funds at attractive rates and, like anything, that rise in cost has to be passed on to the consumer via higher rates.

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The weekly recap of mortgage, home loan and housing news in Australia.

The top stories for the week ending 16/09/07:

What do Australians think about money?
UnderstandingMoney.gov.au
The Financial Literacy Foundation, headed by Paul Clitheroe, was created in early 2006 aiming to help Australians to improve their financial decision-making skills and from all reports has been well received. Apart from numerous resources, information and guides at the website the Foundation has just commissioned a survey of 7,500 Australians aged 12 to 75 to build a better understanding of how we think about and manage money. A PDF report is available via the link above.

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