Report title: The Dinkum Index - Q309 - Fitch Ratings' Quarterly Australian Residential Mortgage Performance Report
from Fitch Research
10 page (5707 word) report published Nov 13, 2009

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...Q309 marks the end of expansionary monetary policy in Australia for this cycle, the final quarter of downward sentiment for the cash rate target (cash rate) set by the Reserve Bank of Australia (RBA). While the cash rate reached its lowest point of 3.00% in April, it was at the October meeting that the rate was increased by 25bp, the first rise since March 2008. It is fitting then, that this quarter also ends with a robust improvement in arrears across all arrears buckets for residential mortgages captured in the Dinkum Indexes. Arrears for lowdocumentation (lowdoc) borrowers had the greatest improvement, with a reduction of arrears across the board of primarily more than 15% from Q209. Lowdoc 30+ days delinquencies decreased to 4.72% in Q309 from 5.68% in Q209. The prime/conforming Dinkum Index also improved to 1.21% in Q309 from 1.40% in Q209, an improvement of more than 13% from Q209. The last time arrears declined across all arrears buckets captured in the Dinkum Index was exactly two...

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