Australian mortgage arrears in the fourth quarter fell further due to the addition of new transactions, Fitch Ratings said in its Dinkum RMBS Index report on Monday.
The 30-plus-days mortgage arrears dropped 7 basis points quarter on quarter to 1.1%, continuing last quarter's decrease, and non-conforming mortgages fell by 32 basis points the report said.
Fitch forecasts the Reserve Bank of Australia will cut the cash rate twice more in 2025, likely reducing arrears.
Australian home prices fell 0.3% quarterly but rose 4.8% year on year, the report added.
Fitch expects an increase of 4% to 6% in home prices this year due to limited housing supply, a tight rental market, and high net migration.
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