Markets

The vast majority of Australians continue to pay their home loan on time

The proportion of Australians falling behind on their home loan repayments remains well below average, standing at just 1.18% in March. Arrears between 30 to 90 days are trending lower, while those 90 days past due are edging higher. S&P expects tighter lending standards will potentially slow credit growth and […]
The vast majority of Australians continue to pay their home loan on time
Markets

Australians are falling behind on their home loan repayments

Australians are falling behind on their home loan repayments. According to ratings agency Standard and Poor’s, the number of delinquent housing loans underlying Australian prime residential mortgage-backed securities (RMBS) increased to 1.29% in January from 1.15% in December. “While some of the increase is due to a decline in outstanding […]
Australians are falling behind on their home loan repayments
Markets

S&P extends its negative outlook to smaller Australian banks

Standard and Poor’s (S&P) has extended its negative outlook on banks to a number of smaller financial institutions in Australia. S&P already has the four major banks on negative, reflecting the outlook of the Australia’s triple-A sovereign rating. The latest ratings move from a stable outlook adds another 25 financial […]
S&P extends its negative outlook to smaller Australian banks
Markets

This key factor is the trigger for a downgrade of Australia’s credit rating

Standard and Poor’s, which has placed Australia’s AAA rating under negative watch, has clearly identified the strength of political determination to reduce government debt as the key factor on whether or not to downgrade the sovereign rating. The negative watch came about after concerns about the size of Australia’s debt […]
This key factor is the trigger for a downgrade of Australia’s credit rating
Markets

Australian housing loan arrears are creeping up again

The number of Australian homeowners in arrears on their home loan is rising, according to the latest data from credit rating agency Standard and Poor’s. Using data collected from residential mortgage-backed securities to calculate the Standard & Poor’s Performance Index (SPIN), the level of arrears rose 6 basis points to […]
Australian housing loan arrears are creeping up again
Markets

BHP Billiton just had its credit rating cut, and may have to rethink its ‘progressive dividend policy’

Credit ratings agency Standard & Poor’s (S&P) cut BHP Billiton’s long-term credit rating overnight, citing “very challenging market conditions and increased demand uncertainty over the coming years”. The agency reduced the company’s long-term credit rating one notch, lowering it from “A+” to “A”. “The rating actions follow our recent update […]
BHP Billiton just had its credit rating cut, and may have to rethink its ‘progressive dividend policy’