16.06.2011 - Australian property market strong despite rising mortgage arrears
Australian banks are experiencing a sharp lift in mortgage arrears, but the spike is not likely to damage the national property market unless unemployment starts to rise.The two largest banks, Commonwealth and Westpac, have reported a sudden rise in loans more than 30 days past their due dates, The Australian reports. They blamed the increase on higher interest rates and the rush of first-home buyers entering the market in the past three years..............................................Full Article: Source
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