Collectively, these protections have kept the vast majority of distressed borrowers in their homes, despite the scale of mortgage arrears experienced following the financial crisis. At the end of 2018, less than one in sixteen mortgages relating to private dwelling homes are in arrears over 90 days.
Despite the severe U.S. credit crisis and its palpable spill-over effects on international financial markets, the CMA region's economies have thus far remained buoyant given the greater resilience and flexibility that have resulted from sound macroeconomic policies and structural reforms adopted over the past few years.