The Australian Financial Review --- Page: 49 : 16 April 2007 Original article by Eric Johnston
ABIX Summary
The Australian housing market is showing signs of stress after several interest rate rises. Ratings agency Standard & Poor's says securitised home mortgage losses are at their highest rate in 11 years. Arrears on full-documentation loans are 1.1 per cent and on low-documentation loans they are 2.33 per cent. Bank earnings could be affected but analysts say unsecured consumer lending is of greater concern.
