Get notifications in real-time for staying up to date with content that matters to you.
Mortgage delinquencies rose in the first quarter of 2008 and are expected to increase further as the impact of interest rate rises filters through, Fitch Ratings said yesterday.
According to Fitch, the thirty-plus day delinquencies on prime mortgages increased to 1.31 per cent in the first quarter, from 1.07 per cent in December 2007.
Thirty-plus day delinquencies for low-doc loans increased even more significantly from 4.12 per cent to 4.98 per cent.
Leanne Vallelonga, associate director at Fitch, said the agency expected mortgage delinquencies to “continue to increase over the next six months as interest rate rises from February and March have yet to feed through into mortgage delinquency statistics”.
Published: 21-05-08
Who do you aggregate through?
Thank you for your vote, you can see the results here.
Major bank hikes fixed rates amid turnaround time debacle
A big four bank has announced that it has increased its fixed rat...
Government overstates JobKeeper uptake
A “reporting error” identified by Treasury and the ATO has re...
Loan Market sees surge in repricing enquiries
While refinancing has been rising recently, Loan Market’s execu...
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
As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of The Adviser.
Receive breaking news direct to your inbox each day
