Australian banks Australian Property Featured Article

Mortgage arrears scream higher in January

Wednesday 21 March 2018

From S&P:

Home loan arrears rose in January. The Standard & Poor’s Performance Index (SPIN) for Australian prime mortgages increased to 1.30% from 1.07% in December 2017, according to a recent report by S&P Global Ratings.

While improving employment conditions have helped to keep overall mortgage defaults low, high household indebtedness is making borrowers more sensitive to interest-rate movements and changes in their economic circumstances, according to the report, titled “RMBS Arrears Statistics: Australia.”

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About the author

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.