Home loan arrears on the rise as high debt and low wage growth bite
Problem home loans are now at their highest level since the aftermath of the global financial crisis, according to the credit ratings agency Standard and Poor's Global.
Concerningly, Standard and Poor's said little relief is in sight. '
"Tepid wage growth, high household debt and a softening economy are likely to keep arrears elevated for some time," Standard and Poor's analyst Erin Kitson said.
Read more at the ABC.