Via S&P:
Australian home loan arrears rose in March. The Standard & Poor’s Performance Index (SPIN) for Australian prime mortgages increased to 1.18% in March from 1.16% in February, according to a recent report by S&P Global Ratings.
Mortgage arrears remained relatively unchanged year on year in March and are lower than the decade-long average for March of 1.31%, according to the “RMBS Arrears Statistics: Australia” report. We expect mortgage arrears to remain steady in 2018 as gradual improvements in key economic indicators such as the unemployment rate help to keep things stable on the household front.