Early signs of debt stress emerging, credit bureau says

Tue, 13 Apr 2021

Mortgage arrears continue to run at a low 1.2%, but the end of the Reserve Bank’s mortgage deferral scheme on March 31 is likely to increase those levels, according to credit bureau Centrix.At its peak, 80,000 housing loans, or 7% of all mortgages, were on deferral as part of covid relief measures.Chief executive Keith McLaughlin said that had fallen to about 3,700 by late March.Despite signs of positive consumer confidence post covid lockdowns, McLaughlin said there were signs of debt stress emerging, with 10,800 accounts flagged as &ldq...

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