With interest rates held for another month it is fast coming to the time when we will see increase in the cash rate over the coming months. If you want to discuss fixing your interest rate, the pro's and the con's, then call me now to discuss your options.

If you are currently in a low doc product it would appear that you will experience rate increases faster than full doc loan holders. I specialise in transforming low doc loans into full doc loans and can save you considerably in the meantime. If any of you know people who are self employed and in a low doc mortgage, please feel free to refer them to me. I am always happy to reduce someone's interest bill and debt level.

Mortgage delinquencies are set to rise in 2010 as borrowers battle rising interest rates and Christmas-induced credit card bills, says global ratings agency Fitch.

Home loans in 30 days + arrears increased across all borrower categories during the December 2009 quarter, Fitch said in a report released on Monday, according to shm.com.au

Non-conforming and low-doc arrears spiked more than 50% on the September quarter.

Non-conforming borrowers represent a small portion of the mortgage market and were the first to be hit by the interest rate hikes, associate director of Fitch structured finance RMBS team, Leanne Vallelonga said.

Fitch expected the effects of further interest rate hikes, continued global instability and the risk of rising unemployment in Australia to push arrears higher in 2010.

However, it did not expect an excessive rise in the arrears of local RMBS transactions or any impact on their overall ratings.

Prime conforming mortgages make up the vast majority of mortgages in Australia.