GENERAL NEWS
AUSTRALIAN mortgage arrears have hit a five-year high, as persistent inflation and the RBA’s cycle of rate hikes weighs heavily on many borrowers...
According to Fitch Ratings’ latest Dinkum RMBS Index report for Q1 2024, the 30+ days arrears were up 9 basis points over the quarter to 1.30%, building on increases in...
Non-conforming arrears are now at their highest level since the onset of the COVID-19 pandemic, after three consecutive increases...
CoreLogic also had the March quarter as the highest reading on mortgage arrears since the first quarter of 2021, though reported the portion of loans behind on...
The Dinkum RMBS Index borrower payment rate (BPR) fell to 21.5% in the first quarter, while the conditional prepayment rate (CPR) was down to 19.1%, both down from...
The RBA’s hikes since May 2022 are set to continue impacting arrears in 2023, with household savings depleted, the high ratio of household debt to disposable income and...
The earliest arrears period of 30 to 59 days has seen the most significant increase over the quarter, at 0.48% of total loans or the highest early arrears rate seen since...
For non-conforming arrears 30-59 day arrears were up by 40 basis points to 1.68% and 60-89 day arrears increased by 21 basis points to 0.97%, while 90+ day arrears dropped...
Additionally, the Fitch-rated RMBS Index, which includes large issuer-retained transactions, saw 30+ day arrears increase by 12basis points over the quarter to 1.07%. With...
LMI providers paid 93.3% of all submitted claims finalised in 1Q24 for Dinkum transactions, this was down 460 basis points over the quarter...
With the LMI payment ratio for Fitch-rated transactions at 90.7%, down 170 basis points from the previous quarter.