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Latest Article
 
RBA considers housing loan stress levels
 
The Reserve Bank of Australia (RBA) has found that home buyers in parts of Sydney and Melbourne are struggling with increases in loan repayments after three interest rate rises last year and falls in the values of their properties. The RBA is concerned by a significant and growing number of mortgagee sales. Mark Armstrong, Property Planning Australia director, which advises on mortgage finance, said that parts of the Melbourne property market were similar to Sydney's south-west. 'What we're seeing is a strong correlation between mortgagee-in-possession sales and people who have been on low-doc loans,' Mr Armstrong said. 'It's the new estate areas.'
 
Source :The Financial Review
 

 
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