There are signs Australians living in the country's outer suburban areas are having a tough time keeping up with their mortgage repayments.

Figures released by credit ratings agency Fitch show home loan arrears have edged up in the past six months.

Some of the most worrying repayment rates are being seen in suburbs that are steadily expanding on fringes of the nation's capital cities.

In terms of payment amounts outstanding, the suburb of Budgewoi on the central coast of New South Wales tops the list.

Real estate agent Denis West has been selling houses in the area for 27 years and says he is surprised by Fitch's finding.

"I can't remember the last time there's been a mortgagee in possession sale in the area," he said.

"I'm not saying there hasn't been people who've [sold] for financial reasons, but there certainly hasn't been any mortgagees in possession lately."

Even though banks might not yet be foreclosing on home loans, today's figures from Fitch show that 3.7 per cent of the mortgage borrowers in the area have been more than 30 days late in payments during the past six months.

That number for the whole country has edged up to 1.35 per cent.

James Zanesi from Fitch says Australia delinquency rate remains low by historical and international standards.

"I think it has to do a lot with the overall economy, which is overall stable and with the fact that unemployment rate is still relatively low, and definitely a stable monetary policy," he said.

James Zenesi says Australia's record low interest rates are keeping mortgages affordable.

Unemployment the key factor

However, that does not mean that everybody is keeping up with their monthly repayments.

Most of the top positions on the late repayment list are occupied by suburbs in growth areas.

They include Melton, Wallan and Craigieburn on Melbourne's outskirts and Green Valley in Western Sydney.

Earlier this week, the Bank for International Settlements warned that Australian home loans could become among the world's most expensive if interest rates rise in the months and years ahead.

That prospect seems increasingly unlikely, and yesterday the Reserve Bank governor Glenn Stevens used a speech in Hobart to strongly indicate that the official cash rate is not going anywhere any time soon.

Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume. Listen Duration: 4 minutes 3 seconds 4 m 3 s Late mortgage repayments rising in Australia's growth areas ( Pat McGrath ) Download 7.4 MB

Economist Steve Keen say weakening economic conditions have convinced him that the next move on rates will be a cut.

However, he says even that will not help many people already struggling to repay their mortgages.

"The main sensitivity is going to be in places where people have bought a place to live in rather than buying it as speculators, and therefore they're very dependent upon their income flow to be able to service [their mortgage]," he said.

"Of course, with unemployment starting to rise, and in very fragile employment areas, that's where we're likely to see the biggest growth in delinquencies."