28.09.2015, 16:11
Fitch: Australian Mortgage Arrears Stable in 2Q15; Conditions are as Good as it Gets
OREANDA-NEWS. Fitch Ratings says that Australian mortgage arrears have improved by 5bp to 1.12% during 2Q15, as expected. These figures have remained between 1.0% and 1.2% since 4Q13. Fitch believes there is little capacity for significant improvement in delinquencies, given the current low interest rates, strong housing market, and stable unemployment rate.
The annualised loss rate continued to improve marginally yoy, as the national house-price gain of 9.8% yoy helped to clear long-dated arrears, and limit losses and claims to lenders' mortgage insurance providers.
Self-employed borrowers continue to experience financial difficulties despite the benign economic environment as indicated by the Low-doc Dinkum index which recorded a 28bp increase in 30+ days arrears to 5.72% in 2Q15. Non-conforming borrowers continue to exhibit higher levels of arrears than prime borrowers with the non-conforming index recording a 30+days delinquency rate of 7.96% as of June 2015.
Fitch's Dinkum RMBS Index tracks the arrears and performance of the mortgages underlying Australian residential mortgage-backed securities (RMBS).
The annualised loss rate continued to improve marginally yoy, as the national house-price gain of 9.8% yoy helped to clear long-dated arrears, and limit losses and claims to lenders' mortgage insurance providers.
Self-employed borrowers continue to experience financial difficulties despite the benign economic environment as indicated by the Low-doc Dinkum index which recorded a 28bp increase in 30+ days arrears to 5.72% in 2Q15. Non-conforming borrowers continue to exhibit higher levels of arrears than prime borrowers with the non-conforming index recording a 30+days delinquency rate of 7.96% as of June 2015.
Fitch's Dinkum RMBS Index tracks the arrears and performance of the mortgages underlying Australian residential mortgage-backed securities (RMBS).
Комментарии