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Mortgage Stress 'alarmist'?

"To support his argument, Mr Naylor quoted a joint Reserve Bank of Australia (RBA) and Australian Prudential Regulation Authority submission to a parliamentary inquiry into home lending practices in August, which found arrears of at least 90 days had a rate of 0.22 per cent. "

In the past default rates had to rise above 3-5% before there were significant concerns about mortgage stress. The figures quoted above suggest we are a long way from mortgage stress.

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