The Exceptional Performance of Australian Residential Mortgages Continues Jun 02
- ID: 2091684
- June 2002
- Region: Australia
- Standard & Poors
MELBOURNE (Standard & Poor's) June 3, 2002--Arrears levels on Australian residential mortgages were largely unchanged in the March quarter 2002 according to Standard & Poor's Australian Mortgage Performance Index (SPIN). The SPIN, which measures delinquencies of more than 30 days on residential mortgages collateralizing Australian residential mortgage-backed securities (RMBS), was marginally lower at 0.89% in the March quarter compared with 0.90% for the previous quarter. Delinquencies on Australian residential mortgages are extremely low by global standards. Standard & Poor's also introduced this quarter the Standard & Poor's New Zealand Mortgage Performance Index (New Zealand SPIN). The index measures delinquencies on residential mortgages collateralizing New Zealand RMBS issues. For the March quarter 2002, the New Zealand SPIN was 0.90%, commensurate with...
Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings)
Action: S&P Event
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Australia (Commonwealth of) (Unsolicited Ratings)