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Australian home loan arrears fell in April, according to a report by S&P Global Ratings.
The Standard & Poor's Performance Index (SPIN) for Australian prime mortgages decreased to 1.36% in April from 1.37% in March.
The SPIN for nonconforming mortgages fell to a record low for April of 3.86% from 4.19% the previous month, according to the RMBS Arrears Statistics: Australia report.
Mortgage arrears remained relatively unchanged year on year in April, but they fell in the 31-60 day and 61-90 day categories. The more severe category of loans more than 90 days in arrears continued to rise, hitting 0.70% in April. Prime arrears remain below the highs of 2011 and 2012, when they rose above 1.60%.
Non-conforming arrears reached a record-low of 3.86%, which was supported by strong issuance during the month, with the total amount outstanding jumping more than 30% to $5.46 billion.
The SPIN measures the weighted-average of arrears more than 30 days past due on residential mortgage loans in publicly and privately rated Australian RMBS transactions.
