Aussie mortgage arrears stable

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Via S&P:

Australian home loan arrears fell in April. The Standard & Poor’s Performance Index (SPIN) for Australian prime mortgages decreased to 1.36% in April from 1.37% in March, according to a recent report by S&P Global Ratings.

The SPIN for nonconforming mortgages fell to a record low for April of 3.86% from 4.19% the previous month, according to the report, titled “RMBS Arrears Statistics: Australia.” Mortgage arrears remained relatively unchanged year on year in April.

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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.