Via S&P:
Australian prime home loan arrears fell in August, according to a recently published report from S&P Global Ratings.
The Standard & Poor’s Performance Index (SPIN) for Australian prime mortgages was 1.36% in August, down from 1.38% in July. The decline was consistent with our expectations; arrears have typically decreased month on month in August for the past five years. At 1.36%, however, arrears are noticeably higher than the August average for the past five years of around 1.13%, though they remain low overall.