Arrears rates in mortgage securities pools rose from 1.35 per cent to 1.54 per cent in the year to September, Moody's said yesterday.Moody's said the increase was concentrated in tourist areas such as Queensland's Sunshine Coast and Gold Coast, where unemployment rates are over six per cent.Arrears rates on the Sunshine Coast rose from 1.84 per cent to 2.68 per cent during the year to September and arrears on the Gold Coast rose from 1.57 per cent to 3.11 per cent.National Australia Bank reported earlier this week that its home loan arrears rate had increased in the December quarter.Moody's said it expected that the two interest rate cuts at the end of last year would put a cap on growth in arrears this year. Another factor likely to keep a lid on arrears is the country's savings rate, which is at its highest level for 20 years. "If borrowers experience unforeseen circumstances, such as the loss of a job or an unexpected increase in expenses they can use their savings for their mortgage payments," Moody's said.However, Moody's said the percentage of borrowers going from arrears to default would increase because of increases in underemployment in tourism, retail and manufacturing.