Nov
20
Aussie Mortgage Bonds Sell at Slowest Pace in Four Years
By-
RMBS issuance Down Under 36% less than at same stage last year
-
Decline comes as fundraising in unsecured market has increased
Home-loan providers in Australia are selling mortgage bonds at the slowest pace in four years, flocking instead to cheaper debt that doesn’t require collateral.
Just A$14.8 billion ($11 billion) of new residential mortgage-backed securities have been issued so far in 2016 by banks and other housing lenders, 36 percent less than at this stage last year, data compiled by Bloomberg show. At the same time, unsecuritized borrowing by Australia’s four biggest banks is running at the fastest pace since 2009…
Aussie Mortgage Bonds Sell at Slowest Pace in Four Years
