Updated November 21, 2023 at 5:20 p.m. ET
The latest market discussions covering financial services. Exclusively on x Newswires at 4:20 a.m. ET, 12:20 p.m. ET and 4:50 p.m. ET.
4:28 p.m. ET – A new study from pollster Roy Morgan shows that 1,514,000 mortgage holders, or 30.1% of the market, were considered at risk of mortgage stress in the three months to October. It was only the third time in the index’s history that more than 1.5 million mortgage holders fell into this category, according to the surveyor. The number at risk has increased by 707,000 since May 2022, when the RBA began an interest rate hike cycle. Official interest rates now stand at 4.35%, the highest interest rates since December 2011. The number of mortgage holders considered to be at extreme risk was 19.7% of all mortgage holders. mortgage holders, which is significantly higher than the long-term average of the last 10 years. 14.1%, according to the data. (firstname.lastname@example.org; @JamesGlynnNews)
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