GENERAL NEWS
DESPITE uncertain economic conditions, Australian households are mostly holding up against affordability challenges, with arrears still in line with long term averages.
According to S&P Global Rating’s latest RMBS Performance Watch: Australia report for Q3 2023, prime mortgage arrears were at 0.92% in September, which is around the...
While Prime RMBS arrears remain around long-term averages, they are way up year-on-year from the historic low of 0.58%...
“Arrears are a lagging indicator. They also had a delayed impact from this monetary policy tightening cycle, thanks to higher pandemic savings buffers,” read the report by...
In Q3, nonconforming arrears rose to 3.86% from 3.47% in Q2, with nonconforming borrowers more vulnerable to cashflow pressures from higher rates...
Prime prepayment rates edged up to 25.92% during Q3 from 25.46% in Q2 with nonconforming prepayments down to 36.93% from 37.52% in...
With prepayment rates typically peaking in September and currently sitting above long-term averages, reflecting still strong refinancing conditions...
“Property price growth, savings buffers and competitive refinancing conditions is helping to ease debt-serviceability pressures by giving borrowers more agency to...
As of September 2023, investor arrears are at 1.06% compared to 1.37% for owner-occupiers, this gap is expected to narrow as borrowers are more likely to lag on mortgage...
Albanvale in Melbourne’s north-west is currently the wort-performing suburb, with 4.41% of loans in arrears...
While two Queensland suburbs round out the top five wort performing suburbs with Barkly at 3.72% and Jimboomba at 3.57%.