The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
Recent reports have indicated a worrying trend for Australian homeowners as mortgage delinquencies have climbed to levels not seen in three years.
This surge happens concurrently with the stagnation of interest rates after a protracted period of increases.
Data released by industry authority CoreLogic on Thursday highlighted this upward trend in mortgage arrears, with the figures hitting 1.6 percent in the first quarter of 2024. This presents new challenges for both homeowners and financial institutions alike.
The current economic climate, characterized by uncertainties and fluctuating housing markets, has put significant pressure on homeowners. While interest rates have plateaued, the cumulative effect of prior increments is taking its toll on the financial stability of many Australians.
This trend mirrors a broader global pattern where housing affordability and debt management are becoming central concerns. For instance, in the U.S., the Federal Reserve’s aggressive interest rate hikes have resulted in similar challenges for American homeowners, leading to a noticeable rise in mortgage delinquency rates there as well.
To adapt to this emerging reality, financial institutions in Australia are exploring various strategies. Some banks are reconsidering their lending criteria and offering more flexible repayment options to support those struggling to keep up with their mortgage payments.
Moreover, this spike in arrears might trigger policy changes. Historically, periods of heightened mortgage defaults have often led to government interventions aimed at stabilizing the housing market and providing relief for affected homeowners.
This information aligns with the data originally reported by CoreLogic and covered by Holly Hales from AAP on June 20, 2024. For those seeking to delve deeper into this trend and its implications, access to the full report is available for subscribers of the original publication.
Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.
In April 2026, electric vehicles (EVs) accounted for 16.4% of all new car sales in Australia, marking a significant milestone in the nation's automotive market. This equates to approximately one in every six new vehicles sold being electric, highlighting a rapid shift towards sustainable transportation. - read more
The Australian housing finance sector has witnessed a significant downturn, with new dwelling finance approvals falling by 3.8% in the first quarter of 2026. This marks the largest quarterly decline in three years, signaling potential challenges within the housing market. - read more
The Reserve Bank of Australia (RBA) has raised the cash rate by 25 basis points, bringing it to 4.35% as of May 2026. This decision comes despite recent inflation figures showing a slight decrease, indicating the RBA's commitment to steering inflation back within its target range of 2% to 3%. - read more
Macquarie Bank has reported a significant 27% increase in its residential mortgage portfolio over the past year, solidifying its position as Australia's fifth-largest lender. This growth highlights Macquarie's successful strategies in capturing a larger share of the mortgage market, traditionally dominated by the big four banks. - read more
As of March 2026, Australian savers are witnessing the highest interest rates on savings accounts in over a year, with rates reaching up to 5.50%. This increase is largely driven by recent cash rate hikes implemented by the Reserve Bank of Australia (RBA). - read more
MG has announced a significant price reduction on its HS Super Hybrid range as part of its End of Financial Year (EOFY) M-Genius campaign. Until 30 June 2026, the HS Super Hybrid Excite is available for $42,990 driveaway, down from $47,990, and the Essence variant is priced at $46,990, reduced from $51,990. This $5,000 discount represents approximately a 10% saving on these plug-in hybrid SUVs. - read more
As the End of Financial Year (EOFY) approaches, tradies planning to finance a new ute or work vehicle should be mindful of critical timing considerations to maximise tax benefits and avoid processing delays. Light commercial vehicle sales have seen a decline of 5% in Q1 2026, and heavy commercial vehicles dropped by 12.5%, indicating a competitive market landscape. - read more
Entering the realm of self-employment brings with it not only the freedom to be your own boss but also unique challenges, especially when it comes to securing financing for significant purchases like a car. For the self-employed, the path to obtaining a car loan can be fraught with additional hurdles, stemming from the variable nature of their income and the scrutiny lenders apply to their financial profiles. - read more
Car loan refinancing involves taking out a new loan to pay off an existing car loan. This can be done with the same lender or a different one. The primary goal is often to secure better interest rates, alter the loan term, or reduce monthly payments. - read more
Specialist lenders are financial institutions that offer tailored loan products to meet the unique needs of borrowers who may not be well-served by traditional banks. These lenders often have more flexible lending criteria and can accommodate a broader range of financial situations. - read more
Buying a car, especially for the first time, can be an exciting milestone. It's not just about finding a vehicle that suits your needs and lifestyle—it’s also about navigating the financial journey that accompanies it. One crucial part of this process is understanding auto loan pre-approval. - read more
If you're in the market for a new car, you may be wondering if you can get a loan with poor credit. The answer is yes, but it's important to understand the impact that your credit history can have on the loan process. - read more
Stepping into the world of self-employment can be a profoundly liberating experience, offering greater flexibility and the potential for financial independence. However, when it comes to securing finance for substantial purchases like a vehicle, self-employed individuals may face unique hurdles. Traditional lenders often favor those with a stable employment history and regular income statements, which can put the self-employed at a disadvantage. - read more
Pre-approved car loans are financing arrangements where a lender evaluates your financial situation and determines an approved loan amount before you start shopping for a vehicle. This process provides buyers a clear understanding of their budget, which helps in making more informed decisions. - read more
Start Here !
All quotes are provided free and without obligation. We respect your privacy.
Knowledgebase
Equity: The amount of (or that portion of) an asset actually owned. Equity is the difference between the market value and the current amount of money still owing on the loan. This is also referred to as the owner’s interest.
No comments yet. Be the first to share your thoughts.