Australia Mortgage Arrears to Increase This Quarter, Fitch Says
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More Australians may fall behind on home loan repayments this quarter as increases to the benchmark borrowing rate hurt household finances, according to Fitch Ratings.
Arrears of more than 30 days on the loans underlying prime residential mortgage-backed securities rated by Fitch dropped in the second quarter to 1.32 percent from 1.38 percent, the ratings firm said in its Dinkum Index report today. That trend may reverse after the central bank resumed the most aggressive round of monetary policy tightening by a Group of 20 member.