More borrowers are falling behind for the first time on their mortgage repayments, credit ratings agency Standard and Poor’s says.
The proportion of owner-occupier home loans in arrears increased to 1.29 per cent in January, from 1.15 per cent in December, the agency says.
Crackdown on investor loans
Treasurer Scott Morrison believes it’s the willingness to loan money to investors coupled with watered down regulations that is negatively impacting household debt and housing prices. (Vision courtesy ABC News 24)
The largest increase was in mortgages between one and two months in arrears, which S&P said suggested an increase in borrowers newly in arrears.