Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Hansard source

The senator may wish he had directed his question with regard to regulation to the Minister representing the Assistant Treasurer, but I note that Standard and Poor’s mortgage performance index—apparently called SPIN—noted that, while delinquency rates have been edging up in the past 12 months, the rise was based on an arrears rate that was still extremely low. That is consistent with observations by APRA in its APRA Insight report in June that:

Australia appears to be at a cyclical high point in terms of credit quality.

It was noted that some borrowers who had missed repayments and were therefore considered in arrears still remained ahead of their repayment schedule. While it is appropriate for the opposition to be drawing attention to these matters, it is their propensity to see the glass as half empty rather than half full. Australian families are benefiting from an extraordinary period of strong economic growth, relatively low interest rates, a very strong job market and rising real wages. The mob over on the other side of the chamber have been rejected four times because of their failure in economic policy. (Time expired)