According to figures released by a leading credit ratings agency the level of mortgage delinquencies amongst homeowners in Australia has been falling.

With the global financial crisis, the problems that have hit the property sector, and the recession, finances have been difficult for most households in Australia for some time, and these financial difficulties have resulted in many people missing out on repayments on both unsecured debts and even on their mortgage loans, as many have struggled to make ends meet.
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Industry experts have expressed concern over the financial stress that Australian homeowners will face if interest rates go up by one or two percent.

In the current economic and financial climate in Australia many homeowners are relieved that the base interest rate is currently low, as this reduced the chances of them falling behind on their mortgage repayments and facing losing their homes. However, industry experts have recently expressed concern over what will happen to these homeowners in the event that interest rates rise by one or two percent.
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A recent report has suggested that an increasing number of Australian homeowners and would be homeowners are now opting for fixed rate mortgages for fear of rates going back up.

Over recent years many homeowners and property purchasers have opted for variable rate mortgages, so that they could benefit from interest rates going down as and when this happened. However, according to a recent report more and more homeowners as well as would be buyers are now looking at fixed rate mortgages, as many want to protect themselves against rising interest rates.
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A recent survey has indicated that the level of mortgage arrears amongst Australians has recently dipped as base interest rate cuts reduce the pressure on homeowners.

Like most other major economies Australia has struggled to cope with the global credit crunch, with its residents being hit hard financially as a result of the financial problems. However, despite the state of the economy a recent report has indicated that the level of mortgage arrears amongst Australian homeowners has continued to fall.
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It has been reported that the CBA has become the first of Australia’s major banks to increase variable mortgage interest rates since the base rate cuts started last September.

Last September the Reserve Bank of Australia started a round of interest rate cuts to increase affordability amongst homeowners and try and boost the economy. However, one of the nation’s four largest lenders has now announced that it is putting up its variable mortgage interest rates from the start of next week.
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