Westpac mortgage delinquencies hit two decade high
Mortgage arrears are on the rise across the country, according to Westpac.
In their quarterly Capital, Funding and Credit Quality update, Westpac research has pointed to an increase in arrears across the board.
Their 30+ day delinquencies have jumped by 25 bps over the last quarter and 90+ day delinquencies has risen from 82 bps to 90, reflecting a near two percent hike.
Westpac has the highest financial figure when it comes to past due loans greater than 90 days compared to the rest of the big four banks.
They've suggested a greater proportion of principal and interest loans in the portfolio is contributing to a higher delinquency profile.
Western Australia have been the main driver in the uptick in national mortgage arrears since the end of the mining downturn, however there are rises across most capitals and territories.
NSW delinquencies are up to 71 bps, but remain below the portfolio average.
