ABC News: New figures show the number of people getting behind in mortgage payments has increased considerably across Australia, in the 12 months to September, 2010.Research from Fitch Ratings agency reveals 1 per cent of borrowers were a month or more behind in scheduled payments. The number of Western Australians’ behind in the mortgage repayments was double the national average. That may come as a surprise given that Western Australia is perceived as an economically strong state.
One of the report’s authors David Carroll says the main driver is generally unemployment. Read more…..