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1.Market Observations, 8.Was Sticky

3 Aug 2017 (TheAge) – Rate hikes could worsen mortgage stress in mining areas: Genworth

(3 August 2017, The Age, p6, Clancy Yeates)

‘Rising home loan interest rates may push mortgage stress further into “elevated” territory in mining regions and other parts of the country with weak labour markets, mortgage insurance giant Genworth says. The insurer on Wednesday said a higher proportion of home owners in Queensland and Western Australia had fallen behind on repayments, and this contributed to a 34.7 per cent slide in its profit.’

Read more at TheAge.com.au

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