Via S&P:
Australian prime home-loan arrears fell in August. That’s according to S&P Global Ratings’ recently published “RMBS Arrears Statistics: Australia.”
The Standard & Poor’s Performance Index (SPIN) for Australian prime mortgages declined to 1.41% in August from 1.49% a month earlier. While arrears typically fall at this point in the annual cycle, the magnitude of the decline in August suggests that interest-rate and tax cuts are filtering through to arrears.
