Falling rates yet to put dent in mortgage arrears

Mortgage arrears were 7% higher when compared with March last year. (Image: Getty)

Tue, 06 May 2025

Falling interest rates are yet to put a dent in mortgage arrears as banks’ non-performing housing loans rose by $61 million in March, new data shows.Centrix’s latest credit indicator report shows that home loan arrears exceeded seasonal expectations in March, with 24,000 accounts reported as past due, up 700 from the previous month.Mortgage arrears were 7% higher when compared with March last year.Despite the Official Cash Rate (OCR) falling 200 basis points (bps) since August last year, the percentage of mortgage accounts past due...

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