Login
ISCOVER
Australian housing loans in arrears for non-conforming residential mortgage-backed securities (RMBS) dropped to its lowest level since 2000.
According to research by Standard & Poor’s (S&P), arrears levels for non-conforming RMBS fell to 3.99 per cent in September – down from 4.47 per cent on the month prior.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
“The non-conforming arrears level is significant because it is the lowest recorded since we began compiling the SPIN in 2000,” S&P credit analyst Narelle Coneybeare said.
The SPIN measures the weighted-average arrears more than 30 days past due on residential mortgage loans in publicly and privately rated Australian RMBS transactions.
Arrears levels for prime RMBS also saw a decline in September, down to 0.91 per cent from the 10-year low of 0.93 per cent in August.
[Related: Metro outperforms regional for mortgage delinquencies]
