Moody’s warns of rise in home loan delinquency rates

first_imgHome loan delinquency rates are lowest in suburbs within 5km of Australia’s CBDs, according to Moody’s. Image: AAP/Brendan Esposito.But the report found overall that the number of borrowers at least 30 days behind on their home loans were most likely to be found in Brisbane’s outer suburbs, 30km to 40km from the city centre, where average incomes were lower.Delinquency rates were lowest within five kilometres of Australia’s CBDs.“Average incomes are lower in outer suburbs than in inner-city areas, while mortgage loan-to-value (LTV) ratios are higher on average in outer areas and socio-economic conditions are typically weaker,” the report said.The ratings agency analysed residential mortgage-backed securities to find out which households were behind on their repayments. Home loan delinquencies are more likely to occur in Brisbane’s outer suburbs, according to Moody’s. Image: AAP/Dan Himbrechts.BORROWERS struggling to pay off investment properties account for more than half of all mortgage delinquencies within 5km of Brisbane’s CBD, a new report reveals.The report from Moody’s Investors Service also found a large chunk of those delinquencies were for loans for apartments or interest-only loans.Moody’s Investors Service associate managing director Ilya Serov warned of the possibility of a spike in the number of inner-city borrowers being unable to repay their mortgages if a prolonged downturn in property prices was to occur. At least half of all mortgage delinquencies within 5km of Brisbane’s CBD are for investment property loans. Image: AAP/Brendan Esposito.More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours agoIn suburbs within 5 kilometres of the CBD in Sydney, Melbourne and Brisbane, at least 50 per cent of mortgages are extended for investment purposes, according to the ratings agency.“There is also a high share of interest-only loans in these areas,” Mr Serov said.“The performance of investment and interest-only loans is more sensitive to housing price declines than owner-occupier and principal and interest loans, because borrowers rely on price gains to earn a return on their investment.“Falling housing prices can also hamper borrowers’ ability to refinance such loans or extend interest-only terms.”last_img read more

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Della Mae McAdams

first_imgDella Mae McAdams, 90, of Moores Hill passed away Sunday, September 30, 2018 at High Point Health in Lawrenceburg.  Della was born Tuesday, June 12, 1928 in Cleves, Ohio the daughter of Elmer and Lillian (Crouch) McMurray.  She married John McAdams August 2, 1947 and he preceded her in death August 8, 2004. She was a member of the Moores Hill Baptist Church. She was a homemaker and enjoyed puzzle books, plastic canvas crafting, crafts, canning, flowers and gardening. Della loved her family and loved life in general.Della is survived by son Dennis (June) McAdams of Versailles; daughter Lillian (Dennis) Banks of Moores Hill; brother Elmer McMurray of Florida; sisters: Shirley Betler of Versailles, Jeanette Collins of West Virginia, Mary Triplett of Ohio and Carolyn DeWitt of Versailles; 8 grandchildren and 10 great grandchildren.  She was preceded in death by her husband, son Kenneth McAdams, grandson Dakota James “DJ” Craig, parents, brothers: Stanley, Douglas, Melvin and Vernon McMurray and sister Wilma Metcalf.A service celebrating her life will be held 2 PM Thursday, October 4 at Sibbett-Moore Funeral Home in Moores Hill with Rev. Harris Long officiating. Burial will follow at Forest Hill Cemetery in Moores Hill. Family and friends will gather 12 – 2 PM Thursday at the funeral home. Memorials may be given in honor of Della to the American Lung Association. Sibbett-Moore Funeral Home entrusted with arrangements, 16717 Manchester Street, Box 156, Moores Hill, IN 47032, (812) 744-3280.  You may go to www.sibbettmoore.com to leave an online condolence message for the family.last_img read more

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Meyler warns teammates over Arsenal backlash

first_imgKick off is at 7. The winner will host Watford next Sunday in the quarter final.The visitors are without the suspended Francis Coquelin and the injured Petr Cech and Laurent Koscielny.Meyler has warned his teammates that despite their recent defeats to Manchester United and Swansea, Arsenal are still strong.last_img

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