The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
Recent reports have indicated a worrying trend for Australian homeowners as mortgage delinquencies have climbed to levels not seen in three years.
This surge happens concurrently with the stagnation of interest rates after a protracted period of increases.
Data released by industry authority CoreLogic on Thursday highlighted this upward trend in mortgage arrears, with the figures hitting 1.6 percent in the first quarter of 2024. This presents new challenges for both homeowners and financial institutions alike.
The current economic climate, characterized by uncertainties and fluctuating housing markets, has put significant pressure on homeowners. While interest rates have plateaued, the cumulative effect of prior increments is taking its toll on the financial stability of many Australians.
This trend mirrors a broader global pattern where housing affordability and debt management are becoming central concerns. For instance, in the U.S., the Federal Reserve’s aggressive interest rate hikes have resulted in similar challenges for American homeowners, leading to a noticeable rise in mortgage delinquency rates there as well.
To adapt to this emerging reality, financial institutions in Australia are exploring various strategies. Some banks are reconsidering their lending criteria and offering more flexible repayment options to support those struggling to keep up with their mortgage payments.
Moreover, this spike in arrears might trigger policy changes. Historically, periods of heightened mortgage defaults have often led to government interventions aimed at stabilizing the housing market and providing relief for affected homeowners.
This information aligns with the data originally reported by CoreLogic and covered by Holly Hales from AAP on June 20, 2024. For those seeking to delve deeper into this trend and its implications, access to the full report is available for subscribers of the original publication.
Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.
The Australian marine industry is set to benefit from a significant boost in financial literacy and support, thanks to a new partnership between MitchCap, the Boating Industry Association (BIA), and the Boating Industry Association of Victoria (BIAV). This collaboration introduces the Industry Financial Skills and Awareness Program, designed to enhance the financial acumen of marine businesses nationwide. - read more
Club Marine, Australia's leading boat insurance provider underwritten by Allianz, has expanded its offerings to include specific coverage for race boats while they are on land. This development comes through a new partnership with the Australian Offshore Powerboat Club (AOPC), aiming to address the unique insurance needs of race boat owners during storage and transit. - read more
Nautilus Marine Insurance has expanded its marine insurance product portfolio to include a dedicated Personal Watercraft (PWC) Insurance policy. This new offering is specifically designed for personal watercraft owners across Australia, providing market-leading coverage with the flexibility to tailor the insurance to individual needs. - read more
Club Marine, Australia's leading provider of recreational boat insurance, has expanded its offerings to include specific coverage for race boats while they are on land. This development comes through a new partnership with the Australian Offshore Powerboat Club (AOPC), aiming to address the unique insurance needs of race boat owners. - read more
The inaugural Great Barrier Reef Commercial Marine Conference was held in Cairns on 11 March 2026, bringing together 50 industry leaders, operators, and suppliers to discuss the future of Australia's commercial marine sector. A significant highlight of the event was the launch of the Australian Commercial Marine Economic Impact Study (EIS). - read more
Jet skiing is an exhilarating water sport that offers fun, excitement, and a great way to explore Australia's beautiful waterways. As a beginner, diving into the world of jet skiing can be thrilling but also overwhelming, given the various options and considerations involved in purchasing your first jet ski. - read more
Your credit score is an important number that significantly impacts your financial health. It's a numerical representation of your creditworthiness based on your credit history. Lenders use this score to evaluate the level of risk involved in lending you money. - read more
Weather plays a pivotal role in almost all outdoor activities, but when it comes to jetskiing, it does more than just influence the level of enjoyment—it dictates the safety and viability of taking to the water. For enthusiasts of this thrilling water sport, knowing how to read and understand weather conditions is not just a skill, it's a necessity. - read more
Jet skiing can be a fun and exhilarating activity for families, but safety should always be a top priority, especially when children are involved. In Australia, there have been numerous jet skiing accidents involving children, with some resulting in serious injuries or even fatalities. It is important for parents to be aware of the potential risks and to take appropriate safety measures to protect their children when jet skiing. - read more
Welcome to our comprehensive guide on jetski financing in Australia. If you're dreaming of cutting through the waves on a shiny new jetski, you're not alone. Jetskis have seen a growing popularity in Australia, offering thrilling adventures and unforgettable moments on the water. - read more
Knowledgebase
Portfolio: A range of investments held by an individual or institution.