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27 Nov 2018 (AFR) – Mortgage delinquencies double as loans convert to principal-interest: Moody’s

(27 November 2018, AFR, p31, by Michael Bleby)

‘Overdue loans will rise as mortgages convert to principal-and-interest from interest-only, driving a “moderate” increase in mortgage delinquencies, Moody’s Investor Service says in a new report. Citing its own figures showing that 0.94 per cent of loans that had converted to principal-and-interest from interest-only were 90 days or more overdue – double the delinquency rate of interest-only loans – the quality of securities backed by property-loving Australians’ home loans were likely to worsen, the ratings agency said. ‘

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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