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Mortgage Arrears Lowest in 11 Years

Discussion in 'Property Market Economics' started by House, 21st Apr, 2016.

  1. House

    House Well-Known Member Premium Member

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    There's a Dinkum Index?!!

    Mortgage arrears hit lowest point in more than a decade - Your Mortgage Australia
     
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    should make APRA very happy

    What it will also dois bring in more non regulated lenders that can see the value and security in the OZ mortgage market

    ta

    rolf
     
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  3. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    This is why the LMI business is easy money :) charge ridiculous premiums on loans that are rarely defaulted on.
     
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  4. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    True. Might be time to look at buying shares in Genworth and QBE....
     
  5. Kate Moloney

    Kate Moloney Well-Known Member

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    I wonder about the quality of data that gets published. Haven't been able to locate any decent data on the mining town regions foreclosure rates, default rates etc.
     
  6. bumskins

    bumskins Well-Known Member

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    Yep easy money, until it isn't.
     
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  7. 2FAST4U

    2FAST4U Well-Known Member

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    Mining towns make up a tiny proportion of the market. Sydney and Melbourne alone hold 60% of the population. With record low interest rates it would be a disaster if mortgage arrears were not at pre GFC lows. The real challenge will come when interest rates eventually start to return to their long term average of 7-8%.
     
  8. Kangabanga

    Kangabanga Well-Known Member

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    Actually low mortgage arrears should be concerning as it could mean the chance of a reversion to mean is so much higher..
     
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  9. Kate Moloney

    Kate Moloney Well-Known Member

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    I agree, I'm still interested in seeing the data though.
     
  10. Carrytrader

    Carrytrader Active Member

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    No suprise arrears are low due to record low interest rates and manageble unemployment rate. It's what happen when the cycle turn and rates go up that's important. If everyone deleverage beforehand then everything should be good but I don't think that's the case.