Get notifications in real-time for staying up to date with content that matters to you.
Arrears on residential loans underlying Australian prime RMBS mortgages jumped 12 basis points to 1.70 per cent in November 2008 from 1.58 per cent in October 2008, Standard & Poor’s have revealed.
It appears, the ratings company said, that the latest RMBS arrears statistics have yet to show any real effect of the 2 per cent cut in the RBA official cash rate to the end of November 2008.
More than $842 million of all prime loans were in arrears greater than 90 days, Standard & Poor’s said. Of this figure, one third were classed as low doc loans.
COMMENT HERE
The financial services ombudsman has changed its rules after the ...
One in two borrowers does not believe banks always have their bes...
Here’s the weekly round-up of the biggest news stories from acr...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Do you expect mortgage applications to increase or decrease over Summer?
