Good News story – home loan arrears continue to decline

Home loanThere are many articles in the press that are pessimistic and depressing regarding home loan borrowers.

This article proves there is good news as well.

Australian home loan arrears fell during the month of October, continuing the trend from previous months, according to S & P Global Ratings.

Australian home loan arrears for prime residential mortgage-backed securities fell to 1.04% in October. This is below the October average of 1.13% and well below the past decade average of 1.25%.

This positive trend can no doubt be attributed to continually low interest rates and improved employment conditions.

Apart from the low arrears position, many home loan borrowers have reduced their loan terms by maintaining repayments at levels when interest rates were higher. Also many have increased the balances held in off-set accounts. Both of these are good buffers if and when economic conditions decline.

May there be more good news stories in 2018.


Allan Hall impresses as finalist for SMSF and Accounting 2018

Allan Hall is excited to announce that it is officially in the running to take home four awards at the prestigious SMSF and Accounting 2018 Awards. This is a nationwide industry event which recognises performance in SMSF and accounting professions across Australia, honouring the individuals and businesses who are leading the way in SMSF advice and accounting by championing professionalism, quality advice and innovation.

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