Original article by Paulina Duran
The Australian – Page: 13 & 16 : 28-Feb-24

Data from Roy Morgan shows that a record 1.6 million Australians were ‘at risk’ of mortgage stress in the three months to January. The Roy Morgan report shows that an additional 802,000 people have had to spend up to 45 per cent of their after-tax household income on their mortgage repayments since the Reserve Bank began raising the cash rate, putting them at risk of mortgage stress. Roy Morgan CEO Michele Levine says another 29,000 home-loan borrowers would be at risk by April if the RBA increases the cash rate in March. Separate data shows that prime mortgage arrears among publicly securitised loans rose by 0.5 per cent to 0.97 per cent in the December quarter; Erin Kitson of S&P Global Ratings expects arrears rates to peak above one per cent.

CORPORATES
ROY MORGAN LIMITED, S&P GLOBAL RATINGS