Thursday, Aug 27, 2009
Moody's paints a bleak picture on Prime mortgage arrears
Mortgagestrategy: Prime arrears on the rise
The number of prime borrowers in three-month arrears has continued to rise as Moody’s warns that arrears on prime mortgages are set to deteriorate. Arrears of more than 90 days on prime residential mortgage-backed securities have doubled from the level recorded by the Moody’s index last year, going from 0.9% in Q2 2008 to 1.8% in Q2 this year. Repossessions have eased off slightly from last year’s levels, with the Moody’s UK prime RMBS indices for Q2 recording a repossession trend of 6.6 basis points compared with 8.0 basis points at the same time last year.
Posted by jack c @ 10:43 PM (296 views) Add Comment
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