Homeowners forging ahead on repayments: Pete Wargent
Pete WargentDecember 17, 2020
Low interest rates are allowing homeowners to forge ahead on repayments.
From the Reserve Bank: "...two-thirds of borrowing is [now] covered by a repayment buffer of at least one month's worth of required mortgage payments, and for half of this, that buffer is more than one year."
One third have at least a 12 month buffer, a remarkable statistic.
One third have at least a 12 month buffer, a remarkable statistic.
The RBA also found that across every state "all arrears levels are relatively low", with New South Wales the best placed of all thanks to its solid economic performance.
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.
His latest book is Four Green Houses and a Red Hotel.
Pete Wargent
Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.