The weak labour market means it’s too soon to conclude that the share of mortgages in arrears won’t rise further, although it will remain low relative to past standards. The number of mortgages in arrears, defined as the borrower failing to make contractual payments where the balance owed is equivalent to at least 1.5% of the outstanding mortgage or where a lender has repossessed a property, fell further from 1.43% of all mortgages in Q1 to 1.41% in Q2. While that’s higher than the low of 1.11% in Q3 2022, it’s below the recent peak of 1.53% in Q2 2024.
The weak labour market means it’s too soon to conclude that the share of mortgages in arrears won’t rise further, although it will remain low relative to past standards. The number of mortgages in arrears, defined as the borrower failing to make contractual payments where the balance owed is equivalent to at least 1.5% of the outstanding mortgage or where a lender has repossessed a property, fell further from 1.43% of all mortgages in Q1 to 1.41% in Q2. While that’s higher than the low of 1.11% in Q3 2022, it’s below the recent peak of 1.53% in Q2 2024.
The weak labour market means it’s too soon to conclude that the share of mortgages in arrears won’t rise further, although it will remain low relative to past standards. The number of mortgages in arrears, defined as the borrower failing to make contractual payments where the balance owed is equivalent to at least 1.5% of the outstanding mortgage or where a lender has repossessed a property, fell further from 1.43% of all mortgages in Q1 to 1.41% in Q2. While that’s higher than the low of 1.11% in Q3 2022, it’s below the recent peak of 1.53% in Q2 2024.
