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Delinquencies in excess of 30 days in the Australian prime residential mortgage market measured 1.35 per cent in August.
The August figure is down from July's by 1.39 per cent.
Jennifer Wu, vice president and senior credit officer at Moody's Investors Services, said she expects the improvement in arrears to continue in the coming months.
“Looking ahead, we expect the performance trends witnessed to date in 2013 to continue with stable delinquencies, underpinned by expected GDP growth of 2.0 per cent to 3.0 per cent, the current low interest rate environment, and a steady unemployment rate of 5.0 per cent to 6.0 per cent,” she said.
According to the Moody's report, Australian prime 60-day-plus arrears in August, of 0.76 per cent, also compare favourably with all economies covered in the report, except for Japan's at 0.29 per cent.
The Global Structured Finance Collateral Performance Review report is updated monthly and covers the collateral performance of 40 structured finance sectors globally.
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