Mortgagee sales could soar when banks pull mortgage payment freezes

REA Group Chief Economist Nerida Conisbee says the number of mortgagee sales is currently low “but that’s not to say it will stay that way”. Ms Consibee told Sky News the sector was not seeing “the highest levels of distress” but put that largely down to mortgage payment freezes banks offered their customers due to coronavirus hardship. “This has got us through and has led to this far more stable position, but sometime it does have to come to an end and if we’re not through the worst of it by then, it will be quite difficult for a lot of people,” she said. “And that will flow on to economic growth.” Image: AP Via news.com.au — Australia’s leading news site https://www.news.com.au