Fewer borrowers are falling behind on repayments

There are fewer borrowers getting behind on their mortgages in 2014, than there were in 2013.

Banks and other lenders approved $84 billion of new residential loans in the June quarter, taking total residential loans on their books to $1.2 trillion according to the latest Australian Prudential Regulation Authority data.

Impaired facilities – mortgages in trouble – as a proportion of total loans and advances have fallen from 1.1 per cent in the June quarter last year to 0.8 per cent a year later.

Source: Banking Day