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Australia Mortgage Arrears Rise to 2010 Highs, RBA's Kearns Says

  • Numbers are still well beneath those seen in 1990s recession
  • Households saddled with one of world’s highest debt levels
No Rapid Rebound As The Worst housing Slump in A Generation Spreads Deeper Into The Economy
Photographer: Brendon Thorne/Bloomberg
Updated on

Australia’s mortgage arrears have climbed back toward 2010 levels, but remain short of posing a threat to the financial system or households, a senior Reserve Bank Official said.

The number of borrowers falling behind in their mortgage repayments is still well beneath the levels reached in the early 1990s recession, as well as those in a number of other developed nations, said Jonathan Kearns, head of financial stability at the RBA.