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Economy

Borrowers move to unfreeze loan repayments

Hundreds of mortgagors have chosen to unfreeze their mortgage repayments early, following a six-month repayment pause offered amid COVID-19, according to NAB.

Borrowers move to unfreeze loan repayments
Genworth outlook downgraded to ‘negative’

A major ratings agency has downgraded its outlook for the mortgage insurer amid expectations of a sharper than anticipated deterioration in Genworth’s financial position.

Genworth outlook downgraded to ‘negative’
Mortgage deferral total surpasses $150bn

Just under 430,000 home loan customers have opted to freeze repayments since the onset of the COVID-19 crisis, the latest figures have revealed.

Mortgage
Auction activity remains ‘below average’

Auction clearance rates have strengthened across the capital cities, but overall activity and auction volumes remain substantially below average.

Auction activity
New housing sales fall to new low

The number of new homes sold hit a record low in March and again in April, with the construction sector set to feel the hit until 2021.

New housing sales fall to new low
ING welcomes digital signatures

The non-major bank has announced that digital signatures acquired through legitimate e-signature platforms will now be accepted on all home loan applications.

ING
Young mortgagors hit hardest by COVID crisis

Over a quarter of young Australians are struggling to meet their mortgage or rental commitments, new research has found.

Mortgage
Non-conforming mortgage arrears bounce

Delinquencies underlying non-conforming home loans have risen by 42 bps, while prime mortgage arrears have remained stable ahead of an expected COVID-induced spike, the latest S&P data ...

S&P Global Ratings
Labour participation sinks to record low

Almost 600,000 Australians lost their jobs in April off the back of the economic fallout from the COVID-19 outbreak.

Labour participation sinks to record low
“Serious” challenges ahead for housing demand: CoreLogic

While restrictions have eased around auctions and inspections, it would take time for housing market demand to recover.

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