Mortgage stress overstated

According to the Mortgage and Finance Association of Australia (MFAA), less people are having trouble meeting mortgage repayments than is generally believed.

There has been an increase in the number of Australians who intend to apply for a home loan in the next 12 months, the first increase since late 2006. While overall numbers of people looking for a home loan are not as high as the 2006 numbers, Phil Naylor, CEO of the MFAA said he is encouraged by the revival of interest.