Delinquencies Slip in Australian RMBS: Moody’s

Delinquencies among prime Australian residential mortgage-backed securities (RMBS) fell in Q209, according to a Moody’s Investors Service report Wednesday. Delinquencies of more than 30 days slipped for the second consecutive quarter despite rising unemployment, Moody’s said.

Reductions in official interest rates drove the decline in the deeper delinquency bucket. Delinquencies greater than 30 days slipped to 1.32% from 1.45% in Q109 and from a record high of 1.58% in December 2008.