More and more of the nation’s borrowers are missing repayments, according to the latest Fitch Ratings Dinkum Index.

The Index found that the number of prime residential mortgage backed securities (RMBS) that have fallen behind repayments between 30 and 59 days have increased by 40 per cent in the December quarter. 

Financial comparison company RateCity says that the figures show that consumers need to do their research before committing to a home loan.

Michelle Hutchison, Spokesperson for RateCity, said she was concerned to see more borrowers missing their repayments.

“While the Fitch Ratings report states the proportion of mortgages that were 30-59 days in arrears was back to average levels, it’s still surprising to see a rise given the fall in interest rates. It's likely that many of these borrowers have locked themselves into a home loan that they clearly can't afford to maintain.

"Interest rates are at record lows so if borrowers can't afford to keep their mortgage repayments on track now, they could be in serious trouble when rates rise."