The number of home loan and credit card delinquencies is expected to rise in coming months even though interest rates have remained unchanged since November and cost-of-living pressures are easing.Natalie Boog
“Over the last quarter of 2023 we saw the portion of credit cards that are delinquent go up 7 per cent, the portion of home loans that are delinquent go up 5 per cent and the portion of personal loans delinquent rose 2 per cent. It shows credit stress last peaked in the middle of last year following 12 interest rate increases by the Reserve Bank between May 2022 and June 2023. After improving in the second half of last year, credit risks began to intensify again in November and December.Default risk for credit card holders in Victoria rose by 8 per cent in the year to December and by 6 per cent in NSW over that period.as the cost of living crunch hit households last year.
Source: Loan Digest (loandigest.net)
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