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.
Australia's marine insurance landscape has welcomed a significant new player with the launch of Marinex Underwriting. This specialised marine underwriting agency aims to address the complex insurance needs of the Australian marine sector, offering tailored solutions backed by global specialty insurance distributor Amwins. - read more
In response to recent shifts in global trade dynamics, GT Insurance is reaffirming its commitment to supporting Australian marine clients navigating these challenges. The imposition of US tariffs-25% on Australian steel and aluminium, and 10% on other exported goods-has introduced new uncertainties for local exporters, particularly in sectors like beef and bulk freight. These tariffs, effective from April 5, 2025, have prompted concerns about declining export volumes and reduced freight margins. - read more
Club Marine, Australia's leading provider of recreational boat insurance, has announced significant updates to its product disclosure statements (PDS), reflecting a commitment to better serve the evolving needs of Australian boaters. This comprehensive review of policy guidelines and terminology aims to align coverage with new boating trends and technologies, ensuring that policyholders receive the most relevant and effective protection. - read more
In a significant development for Australia's shipbuilding industry, the Australian government has approved South Korean conglomerate Hanwha's proposal to increase its shareholding in Austal Limited from 9.9% to 19.9%. This decision comes with stringent conditions aimed at protecting national security interests. - read more
As Australia gears up for the summer season, Yamaha has solidified its position as the most-searched marine brand in the country. According to Retain Media's Q3 2025 Marine Market Brand Consideration Report, Yamaha holds an 8.4% share of search queries, maintaining its lead from the previous quarter. - read more
Owning a jetski is a thrilling and liberating experience for many Australians. The beautiful coastlines and rivers offer the perfect backdrop for enjoying the freedom and excitement that a jetski provides. - read more
Welcome to our guide on jetski loans! Whether you're a thrill-seeker or simply love spending time on the water, owning a jetski can be an exciting adventure. - read more
Imagine cutting through the sparkling waters, the sun on your skin, and the thrill of speed and spray - this is the exhilarating world of jetski ownership. It's a realm where freedom meets adventure, where weekends transform into adrenaline-fueled escapes. However, the rush of riding the waves isn't without its costs, and savvy enthusiasts know that budgeting for your aquatic escapades is as essential as the lifejacket you wear. It's about balancing passion with practicality. - 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
Welcome to our comprehensive guide on the unexpected costs of owning a jet ski. While the idea of cruising on the open water can be exhilarating, it's essential to be aware of the hidden expenses that come along with owning a jet ski. - read more
Knowledgebase
Debt Consolidation: Taking advantage of lower interest rates that may be available by the grouping of multiple loans into one, lower interest rate loan.
