Mortgage Choice sees macroprudential bite

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From the AFR:

One of the country’s biggest mortgage brokers, Mortgage Choice, says the clampdown on lending to landlords has dragged property investors’ share of its loan approvals to a 20-month low.

In a sign banks’ tighter credit standards are having some impact, Mortgage Choice says the proportion of its loan approvals going to property investors fell from 34 per cent in May to 30 per cent in June, the lowest share since late 2013.

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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.