Australian Finance Group (AFG) has released its housing finance data for the month of May, which registered a big rise in monthly mortgage applications, as well as a large increase year-on-year.
The number of mortgage applications rose by 10.4% in May and were up 8.7% over the year to 10,668, whereas the value of applications rose by 14.5% over the month and were up by 18.9% over the year to $5,017 million (see next chart).
