Mortgage Stress Falls to Near Record Lows for Australian Households: Roy Morgan

The number of households under ‘mortgage stress’ sharply fell to near record lows in mid-2021 despite the loss of JobKeeper, according to research by market search company Roy Morgan. The latest data, based on in-depth interviews over a rolling three-month period to May, revealed that the number of ‘at risk’ mortgage holders has fallen to 17.3 percent from 19.4 percent during the same months in 2020. Households have been helped by consistent record low-interest rates, federal government financial assistance, and assistant schemes from financial institutions giving borrowers financial distress mortgage ‘holidays.’ Roy Morgan CEO Michele Levine said mortgage conditions improved as the employment market has experienced a strong rebound with unemployment rates at decade-low levels. “Many years of research into mortgage stress has shown that the biggest driver of increased mortgage stress is the reduction in income caused by the loss of a job which causes an immediate jump into …

Related Post

This website uses cookies.