๐๐ผ๐บ๐ฒ ๐๐ผ๐ฎ๐ป ๐ฎ๐ฟ๐ฟ๐ฒ๐ฎ๐ฟ๐ โ๐๐ฒ๐น๐ผ๐ ๐๐ต๐ฒ๐ถ๐ฟ ๐ฃ๐ฟ๐ฒ-๐ฝ๐ฎ๐ป๐ฑ๐ฒ๐บ๐ถ๐ฐ ๐ฃ๐ฒ๐ฎ๐ธ
The vast majority of mortgage holders are doing a good job managing their repayments, based on the latest Financial Stability Review from the Reserve Bank of Australia (RBA).
โDespite pressures on householdsโ budgets, almost all borrowers have been able to continue to service their debts,โ according to the RBA (see graph).
โWhile housing and personal loan arrears have increased since late 2022, they remain below their pre-pandemic peak. At the same time, a small but increasing share of borrowers have requested and received temporary hardship arrangements from their lenders, which has contributed to arrears rates remaining a little lower than would have otherwise been the case.โ
Banks expect arrears rates to โincrease a bit further from here but remain low relative to historyโ, the RBA added.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge.
Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick and Wayne at Sonam Capital are your Subiaco finance specialists.
