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Arrears on prime Australian securitised mortgages inched up in January to 1.84 per cent, according to the latest data from Standard & Poor’s.
According to the report arrears increased by 0.08 per cent compared to December with around $940 million of all reported prime loans now in arrears of more than 90 days. Around two-thirds of those are low-doc loans.
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Vera Chaplin, Standard & Poor’s credit analyst, said potentially rising unemployment could see arrears continue to arise over the year.
