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.

Arrears climb slightly higher

Staff Reporter 1 minute read

Staff Reporter

Loans underlying Australian prime residential mortgage-backed securities that are greater-than-30 days in arrears rose slightly in December, new research has found.

According to Standard & Poor’s latest Mortgage Performance Index, arrears rose to 1.38 per cent from 1.35 per cent in November 2010.

And, this percentage is expected to climb further still in the first half of 2011 as financial stress among self employed borrowers heightens.

“We anticipate delinquencies to rise in the first quarter of 2011, as the impact of natural disasters in Australia may have temporarily disrupted some borrowers’ ability to meet payments, particularly self-employed borrowers who are more sensitive to changes in business conditions,” Standard & Poor’s credit analyst Vera Chaplin said.

But despite this negative sentiment, Ms Chaplin said overall, borrowers managed the increase in interest rates well through 2010.

Arrears climb slightly higher
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
Renee blethyn NextGen.Net appoints head of broker

NextGen.Net has appointed its inaugural national head of broker ...

BBS Summit 2021 ta Better Business Summit and Awards Sydney postponed

Due to the ongoing COVID-19 resurgence in Sydney, the NSW leg of ...

Andrew Moulds Darren Smith ta Lend adds FleetPartners to platform

Lend has integrated vehicle fleet leasing and fleet management pr...