RBA Backs Resilient Borrowers to Ride out Rate Rises

RBA Backs Resilient Borrowers to Ride out Rate Rises
A bike courier rides past the entrance to the Reserve Bank of Australia (RBA) in Sydney's central business district on April 2, 2013. Greg Wood/AFP via Getty Images
AAP
By AAP
Updated:
0:00

Australian borrowers are clearly under pressure but few are at risk of defaulting on their mortgages, the Reserve Bank of Australia (RBA) said.

Andrea Brischetto, head of the RBA’s financial stability department, said less than two percent of variable-rate owner-occupier borrowers were at “real risk” of not having enough income and savings to meet basic expenses or defaulting on mortgage payments.