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ISCOVER
Staff Reporter
Loans underlying Australian prime residential mortgage-backed securities (RMBS) decreased by 9 basis points to 1.26 per cent in November 2012 when compared with the previous month.
According to a recent report by Standard & Poor's Ratings Services, this is the lowest level of arrears recorded since December 2010.
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The total prime RMBS outstanding decreased slightly to about $108.3 billion.
Subprime RMBS arrears continued to improve, falling by 133 basis points to 7.08 per cent in November.
Standard & Poor’s Ratings Services said the recent falls could mainly be attributed to a new transaction issued during the month.
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