RESIDENTIAL PROPERTY
RESIDENTIAL mortgage delinquency rates will continue to rise in 2024 as mortgage repayment costs significantly outpace income growth...
According to the latest data for residential mortgage-backed securities (RMBS) from Moody’s Investors Service, the share of prime-quality home loans that were at least...
At the same time, the delinquency rate for nonconforming mortgages hit 3.91% in December 2023 from 3.39% in September...
However, delinquency rates still remain below the peak levels witness during the peak response period to the COVID-19 pandemic...
The RBA’s cycle of interest rate hikes since May 2022 has significantly impacted the market, including mortgage repayment amounts, with...
This imbalance will continue to impact mortgage customers’ ability to pay their monthly home loan instalments and will result in higher delinquency rates...
This comes as hardship requests are rising, with any savings buffers built up since the onset of the pandemic now exhausted, according to ANZ and...
With recent analysis from S&P Global Ratings, forecasting tested resilience against prime mortgage arrears in 2024, with savings ratios have fallen from...
Since the RBA commenced its rate hikes, the total amount of scheduled mortgage repayments is up 44% compared to just a 7% increase in average weekly earnings over...
Customers who took out a mortgage in 2021 and 2022 are at significant risk, with delinquency rates for RMBS issued in 2021 and 2022 having increased at a higher rate than...
This is due to these customers to buying when house prices were high, resulting in a larger monthly instalment and because interest rates for these borrowers are above the...
Overall, delinquency rates are only expected to increase moderately, due to low unemployment, paired with rising house prices providing borrowers with equity.