And I’ll finish by taking the opportunity to emphasise that RMBS issuers and investors should be prepared for any future changes in the use and availability of benchmark interest rates.
Interactions between the housing market and the market for housing credit As highlighted recently in a speech by the Deputy Governor, the markets for housing and housing credit are going through a period of significant adjustment.2 After years of strong growth, housing prices have been declining nationally, driven by falls in Melbourne and Sydney over the past year.