Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Delinquencies tipped to fall

Staff Reporter 1 minute read

Prime RMBS delinquencies remained high but steady in the third quarter of 2008, Moody’s Q3 Performance Review revealed yesterday.

According to the review, prime RMBS delinquencies remain at their record high of 1.47 per cent while low doc portfolios saw a sharp increase to 3.90 per cent.

While lower interest rates should reduce pressure on arrears, Moody’s cautioned that rising unemployment was a concern.

“The upward trend in arrears is expected to slow due to recent reductions in interest rates although the situation will be tempered by an expected increase in unemployment,” Moody’s senior analyst Arthur Karabatsos said.

“Accordingly if we look ahead, unemployment will become the single most important factor behind credit quality.”

Advertisement
Advertisement

Delinquencies tipped to fall
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
mortgage choice 850 Major brokerage appoints new GM of distribution

Mortgage Choice has announced that Citi’s former head of bankin...

ANZ new still ta ANZ extends business loan terms

The major bank has announced that it will extend the maximum loan...

cash money rolls Credit growth stunted by dive in business lending

Credit growth has waned as a result of a sharp drop-off in busine...

FROM THE WEB