"Issues of residential mortgage-backed securities (RMBS) total A$67 billion"
Moodys: $3b are non conforming(18 months) so $2b pa in a market where $36b can be written in just 1 month
Where is the context in these "articles"
Context is we have a $1.5T + market
so less than 2.5% of resi mortgage market is collateralized.
The quality will be far better than US.
