Get notifications in real-time for staying up to date with content that matters to you.
Australian consumers have become increasingly cautious about taking on extra debt, the Veda Advantage Credit Demand Index has revealed.
According to Veda Advantage, growth in applications for credit cards and personal loans decelerated considerably over the second half of 2007 – the first significant slowdown in four years.
The total number of consumer credit applications lodged over the period July-December 2007 decreased by two per cent from the same period the year prior.
Veda Advantage general manager of information services and solutions Erica Hughes said that the index shows consumers may be feeling less comfortable about taking on debt.
“Consumers may be concerned about another interest rate hike and may have factored this into their credit and debt decisions,” she said.
Published: 12-02-08
Who do you aggregate through?
Thank you for your vote, you can see the results here.
Court rules against bank for ‘unfair’ loan terms
The Federal Court has declared a number of loan contracts entered...
RBA, APRA sing different tune on serviceability buffers
APRA chair Wayne Byres has dismissed the need for a cut to the bu...
Remodelled FHB scheme cops backlash
From 1 July, all applications for the FHLDS will require a Notice...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Receive breaking news direct to your inbox each day
