Weekly Wrap up - Apart-Age is alive and well?

The recently introduced National Credit Code has had a side effect. Previously banks were comfortable lending to over 50's (even using 20-30 year loan terms) as most loans are paid out in under 12 years. The banks are now tightening their lending criteria. Lenders now 'ask for evidence of how the borrower will pay out the loan on retirement or death, using the code to explain their decision. The code requires lenders to ensure borrowers can afford to service their loans.'
I'd be interested to know the delinquency rate for a mortgagor who takes out a loan after the age of 50. I suspect it's quite low!
Real Estate Matters:
Reserve Bank decision due tomorrow on official cash rates. Like most of these monthly events, there are various opinions on which way the RBA will jump. Its unlikely to be anything greater than a 0.25% drop if at all. My betting is that they will keep their powder dry and leave rates where they are. The European situation is still very volatile and the RBA will likely want scope to reduce rates if things go really turtle up.
We saw 2386 unique visits to our web properties which has remained steady for a couple of weeks.
Auction clearance rates - Sydney 53% and Melbourne 55%

Quote for the week:
How old would you be if you didn't know how old you are?

- Leroy (Satchel) Paige