Now which recent clown told me to watch arrears????? likely too many.....
Mortgage arrears have hit their lowest levels in two decades as record-low unemployment continues to offset the Reserve Bank’s efforts to cool the economy, Fitch Ratings analysis reveals.The Reserve Bank is expected to deliver another rate hike on Tuesday – with financial markets pricing in a 50 basis point increase in the cash rate to 2.35 per cent.
But Fitch Ratings’ latest mortgage arrears report shows Australia’s 30-day mortgage arrears fell 7 bps in the three months to June 30, to 0.82 per cent – the lowest level since tracking began in 2002.
And HSBC chief economist Paul Bloxham expects strong lending standards will cushion Australian banks from a sharp uptick in mortgage losses even if the cash rate reaches 3.25 per cent.
Fitch analysis shows 90-day mortgage arrears fell by 4bp to 0.4 per cent quarter-on-quarter in June, with late-stage arrears tipped to remain broadly stable through this calendar year.
https://www.theaustralian.com.au/business/economics/low-unemployment-sends-mortgage-arrears-to-record-low/news-story/7673db299c4f75b0c29f70d3a60b96b7
