Australians Face Repayment Shock on High-Risk Mortgages - Bloomberg:
Driving the growth is demand for high-risk mortgages such as interest-only loans and financing to buy rental properties.
Interest-only mortgages jumped to 43 percent of all new home lending in the three months through June 30, and credit to buy rental properties climbed to 38 percent, both record highs
Even as the jobless rate reached a 12-year high of 6.4 percent in July, RBA Governor Glenn Stevens has refrained from further rate cuts. The unemployment rate fell to 6.1 percent in August, drawing skepticism from economists at NAB, ANZ and Morgan Stanley who expect the number of jobs added to be revised downward.
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