Prolonged Low Petrol Prices Benefitting Australian Mortgage Performance

May 31, 2016 1:25 AM

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: Asia-Pacific Structured Finance Chart of the Month - May 2016 here SYDNEY, May 30 (Fitch) The reduction in retail petrol prices during the two years to May 2016 has provided Australian households with an opportunity to reduce their living expenses, boost savings and cope better with mortgage obligations.

Australian households spent on average AUD2,604 between May 2015 and May 2016, based on the average household fuel consumption of 40 litres per week and average national retail unleaded petrol price provided by the Australian Institute of Petroleum. This is AUD260 lower than the May 2014-2015 period...

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