Welcome Guest [Log In] [Register]


Reply
Rate rises driving late mortgage payments
Topic Started: 20 Jun 2017, 05:55 PM (772 Views)
Simon_S
Member Avatar


Rate rises driving late mortgage payments
Quote:
 
The number of home owners more than 30 days behind on their repayments grew from 1.16 per cent March to 1.21 per cent in April, S&P Global Ratings said on Tuesday.
"Part of the increase reflects a decline in outstanding loan balances, but we believe interest rate rises announced by different lenders during the past few months affected the Standard & Poor's Performance Index for Australian prime mortgages, given that most of the loans are variable rate mortgages," the ratings agency said.
Lenders have recently hiked rates for interest-only loans to comply with an Australian Prudential Regulation Authority's directive in March that banks must limit higher risk interest-only loans to 30 per cent of new residential mortgages.
Queensland recorded the greatest growth in home owners more than 30 days behind on their mortgage repayments, with arrears rising to 1.66 per cent in April, from 1.58 per cent in March.
NSW had the next largest increase, where arrears rose to 0.91 per cent, from 0.85 per cent.
The S&P report looks only at loans in Australian residential mortgage-backed securities transactions, which account for about five per cent of all outstanding home loans, but are considered representative of the broader market.


And they're just getting started......

Profile "REPLY WITH QUOTE" Go to top
 
Sydneyite
Member Avatar


*yawn*.....
For Aussie property bears, "denial", is not just a long river in North Africa.....
Profile "REPLY WITH QUOTE" Go to top
 
Simon_S
Member Avatar


Sydneyite
20 Jun 2017, 07:31 PM
*yawn*.....
Fun's just starting......
Profile "REPLY WITH QUOTE" Go to top
 
Trollie
Member Avatar


Simon_S
20 Jun 2017, 07:54 PM
Fun's just starting......
You've been saying that for 12 months.

So you're saying the other times you've claimed that you didn't know what you were talking aboiut

Thanks for that
Profile "REPLY WITH QUOTE" Go to top
 
Foxy
Member Avatar
Zero is coming...

Simon_S
20 Jun 2017, 07:54 PM
Fun's just starting......
Yes.
Tick tock.

http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
Profile "REPLY WITH QUOTE" Go to top
 
hidflect
Member Avatar


"Interest rate rises are partly to blame.."

Well that sentence backfired. If they're trying to divert attention from the end of the mining boom then they're saying that a tiny interest rate rise can tip truckloads of people over the edge.

I see Coles has responded with more discounts on roast chicken...

Posted Image
Profile "REPLY WITH QUOTE" Go to top
 
Simon_S
Member Avatar


Trollie
20 Jun 2017, 07:59 PM
You've been saying that for 12 months.

Great isn't it.......the Longer it drags on the more I enjoy it.......
Edited by Simon_S, 20 Jun 2017, 08:15 PM.
Profile "REPLY WITH QUOTE" Go to top
 
Trollie
Member Avatar


Simon_S
20 Jun 2017, 08:15 PM
Great isn't it.......the Longer it drags on the more I enjoy it.......
The enjoyment will be unlimited then when your crash never happens
Profile "REPLY WITH QUOTE" Go to top
 
Simon_S
Member Avatar


Trollie
20 Jun 2017, 08:52 PM
The enjoyment will be unlimited then when your crash happens
Fixed it for you.

Who said it was mine?......Its everyone's......
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
ZetaBoards - Free Forum Hosting
Fully Featured & Customizable Free Forums
« Previous Topic · Australian Property Forum · Next Topic »
Reply



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy