Home loan arrears tracking lower at CommBank: Pete Wargent

Home loan arrears tracking lower at CommBank: Pete Wargent
Home loan arrears tracking lower at CommBank: Pete Wargent

A result that will surprise a few observers, with the Commonwealth Bank of Australia reported unaudited cash earnings of around $2.65 billion for the quarter, up by +6% on improved margins. 

There were seasonal declines in personal loans and credit card arrears.

An interesting point of note was that 90-plus day home loan arrears were tracking at 0.59%, marginally lower from the preceding quarter. 

CBA noted that 90-plus day home loan arrears have declined slightly over the past few years to 0.48% when the state of Western Australia is excluded.

 

Pete Wargent

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.

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