As all eyes were on the budget last week, the fact that international credit rating agency Moody’s is pointing to mounting arrears in the €40 billion Irish residential mortgage-backed securities market (RMBS) got relatively little attention.
Moody’s noted that ‘‘delinquencies’’ in the RMBS market experienced another increase in October.
The numbers who failed to pay their mortgage for more than 90 days rose to 2.9 per cent...
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