Mortgage deferrals keep falling
The vast majority of borrowers are now paying their mortgages, with only 2.4% of home loans on pause at the end of December, according to new data.
Banks allowed Australians to pause their mortgages repayments in March 2020, at the start of the Covid crisis. The share of deferrals peaked in May and has been falling since:
- April = 9%
- May = 11%
- June = 10%
- July = 9%
- August = 9%
- September = 7%
- October = 4%
- November = 3%
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