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Yes, he’s back, from APRA October lending figures today, month on month growth for specufestor mortgages has now rebounded to 0.5% and year on year is back to 3%:
An incipient war for specufestors is building between CBA and WBC, both of which are running close to the 10% speed limit for the system on an annualised basis:
| ANZ | CBA | MAC | NAB | SUN | WBC | BEN | SUN | Total | |
| Oct-16 | 0.2 | 0.7 | -0.6 | 0.6 | -0.2 | 0.6 | 1.9 | -0.2 | 0.5 |
| Sep-16 | -0.1 | 0.7 | -0.7 | 0.4 | 0.7 | 0.7 | 0.7 | -0.4 | 0.1 |
| Aug-16 | -0.3 | 0.6 | -1.0 | 0.4 | -0.3 | 0.6 | 1.0 | -0.3 | 0.3 |
| Jul-16 | -0.6 | 0.7 | -0.6 | 0.3 | -0.1 | 0.4 | 0.5 | -0.1 | 0.3 |
| Jun-16 | -0.5 | 1.2 | -0.1 | 0.1 | 1.7 | 0.6 | -6.3 | 1.7 | 0.3 |
| May-16 | -0.4 | 0.9 | -0.2 | 0.4 | 2.1 | 0.2 | 0.6 | 2.1 | 0.4 |
| Apr-16 | -0.2 | 0.5 | -0.1 | 0.2 | 1.1 | 0.0 | 0.9 | 1.1 | 0.2 |
| Mar-16 | -0.2 | 0.2 | 0.0 | 0.3 | -0.1 | 0.3 | 1.1 | -0.1 | 0.2 |
| Feb-16 | -0.2 | 0.0 | -0.4 | 0.4 | -0.7 | -0.1 | 0.1 | -0.7 | 0.0 |
| Jan-16 | -0.1 | -0.1 | -0.1 | 0.4 | -0.5 | 0.1 | -0.3 | -0.5 | 0.1 |
| Dec-15 | 0.1 | 0.0 | -0.5 | 0.5 | -1.0 | -0.1 | -0.2 | -1.0 | 0.1 |
| Nov-15 | 0.0 | -0.3 | 0.6 | 0.9 | -0.9 | 0.3 | -0.1 | -0.9 | 0.2 |
| Oct-15 | -0.2 | -0.9 | -0.1 | 0.4 | -0.8 | -10.9 | 0.2 | -0.8 | -3.3 |
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Lower the specufestor limit to 5% now APRA.
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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.