It’s as good as it gets right now for mortgage arrears, from Fitch:
We are currently at the equivalent of the 2003 bottom with all upside ahead in my view. Low doc is already distressed at the margin though Fitch recognises that some of this is the result of falling issuance:
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.