Arrears ease
S&P's performance index for Australian prime mortgage saw arrears tick down from 1.36 per cent in August to 1.33 per cent in September.
September is typically a good month for mortgage payments, with more borrowers likely to get themselves into trouble over and following the Christmas break.
90+ day arrears were at 0.74 per cent, a little higher than the prior year figure of 0.66 per cent.
90+ day arrears were at 0.74 per cent, a little higher than the prior year figure of 0.66 per cent.
The index is watched closely at the present time due to the large volume of loans having reset from interest-only.
This has resulted in some loans going into arrears.
Arrears are thus higher than a year earlier when the index reading was 1.08 per cent.
That said, arrears do remain low outside the resources capitals and regions.
