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ISCOVER
Staff Reporter
Loans underlying Australian prime residential mortgage-backed securities that are greater than 30 days in arrears continued to trend downward in June.
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According to data from Standard & Poor’s, lower interest rates have helped arrears to fall 19 basis points to 1.5 per cent.
But the story wasn’t the same for all home loans, with subprime RMBS arrears rising 18 bps to 10.89 per cent in June.
This increase was more pronounced in the new arrears (less-than-30-days bucket) and greater-than-60-but-less-than-90-days bucket.
