Ann: Dividend/Distribution - AFG, page-27

I'm inclined to think that many AFG customers will seek re-financing to extend mortgages, to try and minimise increases in mortgage payments.
There is also the factor of properties being sold due to mortgage stress. It will come
However having said that, AFG will likely benefit from both sides of the equation, a sale and a buy. Only issue here is run off, and how much it iwll be

So the issue here is if AFG broker base has their portfolios well spread they will capture their own market.

AFG should be fine IMHO, but those Monetary policy makers increasing interest rates to crush the economy, on their large enormous salaries will never feel the pain of mortgage stress one suspects.

Banks are making it very hard now with their risk margin, soemtimes as high as a 4% buffer, whcih will only stretch those looking to get in the market. So its more about the affordability factor now against reducing property prices, which are not decreasing as much as expected at present.
So lack of affordability wins

So banks are bufferring in upwards of 9% on your application and this goes directly to servicability.
When the banks realise they have gone too hard they will back off.

Typical of what we do crush an ant with a boulder !