Reuters with the headline from Fitch:
- Fitch: Australian Mortgage Arrears Stable; Conditions Improving
From Fitch Ratings' Report: Mortgage Market Index - The Dinkum RMBS Index - 1Q15
- property market conditions in Australia are improving, with historically low interest rates, high house prices and a stable economy
- Arrears have remained stable since 4Q13 when the environment started improving for borrowers.
- Fitch expects arrears to remain low in the next quarter thanks to sturdy issuance volume, high house prices, stable unemployment and low interest rates. It is unlikely that there will be further improvements to arrears as borrowers unable to service loans in the current environment will face limited benefits from any positive movements in these factors.
