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Growth

Arrears continue to climb

by Staff Reporter3 minute read
The Adviser

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.

Vera Chaplin, Standard & Poor’s credit analyst, said potentially rising unemployment could see arrears continue to arise over the year.


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