Aussie mortgage defaults on the march

Via Moody’s:


» The 30+ days delinquency rate for prime Australian residential mortgage-backed securities (RMBS) increased to 1.79% in March 2020 from 1.55% in December 2019 and 1.57% in March 2019.
» Delinquencies will continue to increase in 2020 because of the economic disruptions caused by the coronavirus outbreak.

Australian prime RMBS delinquency rates, which increased over the three months to March 2020, will continue to increase over the rest of the year, because of the economic disruptions caused by the coronavirus (COVID-19) outbreak.

The 30+ days delinquency rate for prime Australian RMBS was 1.79% in March 2020, compared with 1.55% in December 2019 and 1.57% in March 2019, as Exhibit 1 shows. The 30+ days delinquency rates increased across the different issuer types in the March quarter, as Exhibit 2 shows.

Interesting that majors are overtaking regionals. Look out cities.

David Llewellyn-Smith
Latest posts by David Llewellyn-Smith (see all)

Comments are hidden for Membership Subscribers only.