Stress over jobs, mortages and meeting costs
MORTGAGE stress is on the rise as Australians worry about losing their jobs.
The latest Genworth homebuyer confidence index, which tracks the mood of people who own or are thinking of buying a property, found nearly a quarter of those with a home loan had prob- lems meeting repayments.
The result was up from 18 per cent six months ago, and reflected increasing concerns about unemployment and job security, Genworth chief commercial officer Bridget Sakr said.
‘‘There is uncertainty from a local and global perspective,’’ she said.
Ms Sakr said worries about either job losses or reduced hours at work, as well as cost-ofliving pressures, had a bigger impact on borrowers than falling interest rates.