Tag: Interest Rates

  • NAB Reports Increase in Mortgage Delinquencies Among Customers

    National Australia Bank (NAB) reported a 6% decline in cash profits to $1.75 billion for the June quarter, reflecting its customers’ growing challenges amid rising living costs and high interest rates. This decline in cash profits has impacted NAB’s ability to invest in new ventures and maintain its current operations. NAB’s CEO, Andrew Irvine, who…

  • Australian Mortgage Payments Reach Pre-GFC Levels, Data Reveals

    Australians are now spending more than 20% of their pre-tax income on mortgage payments, a level not seen since before the 2008 global financial crisis, according to data from the Commonwealth Bank (CBA). This represents a significant increase from the late 1990s when households allocated just over 10% of their income to mortgage repayments. The…