More on rising mortgage arrears

Via S&P:

Arrears on the mortgages underlying Australian residential mortgage-backed securities (RMBS) increased during the past year, according to S&P Global Ratings’ first-quarter 2018 edition of “RMBS Performance Watch: Australia.” Mortgage arrears continued to rise in resource states, where conditions for mortgage performance have remained more challenging.

S&P Global Ratings has updated its arrears data for February and March 2018 to reflect an originator’s revisions to arrears data for these months. We have also updated the Standard & Poor’s Performance Index (SPIN) including noncapital market issuance for Australian prime mortgages for these months and republished the SPIN data for March to reflect the revisions.

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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.