New research reveals that a quarter of Australians tied to a mortgage are very worried about repayments... Record numbers turn out for FBAA yearly conference...
25% of mortgage holders ‘extremely concerned’ about rate rise
New research reveals that a quarter of Australians tied to a mortgage are very worried about the impact a potential 1.5% interest rate rise would have on their loan repayments.
The RFi study commissioned by Experian, found younger people with a home loan held greater concern about rising rates, with 26% of millennials (18-34yo) and 26% of Gen X (35-55yo) saying they were ‘extremely concerned’ about their ‘ongoing ability to make mortgage repayments’ if interest rates increased by 1.5% - compared to just 10% of Baby Boomers.
On average, millennials have a mortgage debt of $390,000, compared to GenX $328,000 and Baby Boomers $189,000.
The research also showed 22% of millennials hadn’t been able to make a mortgage repayment in the last year, which is twice as many as the overall market average (11%).
Record numbers turn out for FBAA yearly conference
The Finance Brokers Association of Australia (FBAA) held its annual conference in late November and saw record numbers in attendance.
Held at Sea World Resort, nearly1,000 brokers and finance professionals participated.
Its 2016 theme was, ‘Bigger, Better and Stronger’ and FBAA executive director Peter White said the turn-out greatly exceeded expectations.
“It is hard to believe that when we held our first conference in 2012 there was limited support but in just four short years, to now have around 1,000 industry representatives attending is astonishing.
“The feedback, from our guest speakers to our extensive Exhibition Expo, has been exceptional and has set the standard in finance broking conferencing,” he said.
“It was also heartening to hear ASIC acknowledge its solid relationship with the FBAA as we continue working together to provide the best outcome for brokers.”
New research reveals that a quarter of Australians tied to a mortgage are very worried about the impact a potential 1.5% interest rate rise would have on their loan repayments.
The RFi study commissioned by Experian, found younger people with a home loan held greater concern about rising rates, with 26% of millennials (18-34yo) and 26% of Gen X (35-55yo) saying they were ‘extremely concerned’ about their ‘ongoing ability to make mortgage repayments’ if interest rates increased by 1.5% - compared to just 10% of Baby Boomers.
On average, millennials have a mortgage debt of $390,000, compared to GenX $328,000 and Baby Boomers $189,000.
The research also showed 22% of millennials hadn’t been able to make a mortgage repayment in the last year, which is twice as many as the overall market average (11%).
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In your first 2 years of broking? Aged under 35? Get featured in MPA magazine and online as one of our 2017 Young Guns. Take 2 minutes to apply now and start your rise in broking; applications close December 2nd.
https://www.surveymonkey.com/r/MPA-Young-Guns-2017
Record numbers turn out for FBAA yearly conference
The Finance Brokers Association of Australia (FBAA) held its annual conference in late November and saw record numbers in attendance.
Held at Sea World Resort, nearly1,000 brokers and finance professionals participated.
Its 2016 theme was, ‘Bigger, Better and Stronger’ and FBAA executive director Peter White said the turn-out greatly exceeded expectations.
“It is hard to believe that when we held our first conference in 2012 there was limited support but in just four short years, to now have around 1,000 industry representatives attending is astonishing.
“The feedback, from our guest speakers to our extensive Exhibition Expo, has been exceptional and has set the standard in finance broking conferencing,” he said.
“It was also heartening to hear ASIC acknowledge its solid relationship with the FBAA as we continue working together to provide the best outcome for brokers.”
