Mortgage Problems A Worldwide Phenomenon?
I know this is news that comes from a really far off place, but the fact is that distances don’t change people and that we are not alone in our mortgage sufferings. Recently, the Reserve Bank in Australia noted that there has been a recent increase in the number of people behind on their mortgage payments. Abc.net.au reports:
The central bank also says Australian households have adopted a more cautious approach to their finances, with consumer spending rising broadly in line with incomes. The Reserve Bank is challenging banks and other lenders to avoid a further erosion of credit standards as they chase business in a competitive home loan market.
Read more: Increasing number of mortgages in arrears, says RBA
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