Is the economy in rebound, despite COVID-19?

12 November 2020 Posted by: Centrix Business Media Releases News
Keith McLaughlin spoke to Stuff about our latest credit insights

Our Managing Director Keith McLaughlin spoke to Stuff about our latest credit insights data showing there are signs of improving confidence as the economy rebounds from COVID-19. Read the full story here.

Our data shows that mortgage and non-mortgage lending are both higher than they were at this time last year (up 17% for mortgages and 7% for non-mortgages). We are also seeing increases in average credit scores, meaning there are more people with good credit histories are back in the market looking to borrow.

While this is a positive economic sign of rebounding confidence, there are parts of the economy still struggling – nearly 3% of mortgages are in arrears (13,000 mortgages), but overall, the economy is in a much better position than it was in the middle of last year.

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