RP Data mortgage index turns hot

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RP Data resumed its weekend property update today. It’s all pretty hum drum except for a largish spike in mortgage market activity in December and what looks a very high base in January:

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RP claims the index has a high correlation with ABS housing finance but I’ve never tested it. Realisation of more rate cuts?

Full report here.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.