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.

Australian home owners beat delinquency trends

Staff Reporter 1 minute read

Delinquencies on Australian mortgages recorded a surprise decline in the first quarter of the year, bucking long-term seasonal trends and defying increasing economic pressures.

According to Fitch Ratings’ Dinkum Index, 30 plus day delinquencies decreased from 1.75 per cent in the December quarter to 1.52 per cent in the March quarter.

Delinquencies on low doc loans also improved with 30 plus day delinquencies sliding to 3.65 per cent – from a record peak of 3.95 per cent in the December quarter.

“This is the first decrease in arrears from the fourth quarter of a year to the first quarter of the next year recorded in the ten years of Dinkum Index Data,” Fitch associate director of structured finance RMBS Leanne Vallelonga said.

An inability to refinance saw non-conforming low doc 30 plus day delinquencies rise in contrast to the other sector and set a new record high of 19.79 per cent, Fitch said.

This was more than five times higher than conforming low-doc 30 plus day delinquencies of 3.65 per cent.

 

Australian home owners beat delinquency trends
default
TheAdviser logo
default

 

more from the adviser
regulation rules AFCA amends complaints rules following court case

The financial services ombudsman has changed its rules after the ...

meeting top view ta 62c1 Half of home owners wary of bank refinance advice

One in two borrowers does not believe banks always have their bes...

house sold Hot Property: The biggest property headlines from the week 18-22 January

Here’s the weekly round-up of the biggest news stories from acr...

FROM THE WEB