Monday, December 20, 2010

Australia Boom Towns Have Highest Mortgage Delinquencies

Australian Mortgage Delinquencies On The Rise In Boom Towns
In the last few months, however, home prices have flatlined, leaving affordability stretched after a string of interest rate hikes by the country's central bank. As such, 30-day delinquencies on mortgages are up in the past year, especially in the more speculative booming areas.
Fitch said 30-day deficiencies in south west Australia rose to 2.82% in the third quarter, outpacing every other region in the country.
A rise from 1.9% a year ago. So not exactly panic time, but as a trend, something to note.

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