AFG posts seasonal Q4 mortgage decline

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By Leith van Onselen

Australian Finance Group (AFG) has released its housing finance data for the December quarter, which registered a seasonal fall in mortgage applications.

The number of mortgage applications fell by 2.5% over the December quarter but was up by 6.8% over the year, whereas the value of applications fell by 0.5% over the quarter but was up by 9.9% over the year (see next chart).

ScreenHunter_16878 Jan. 16 15.07

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.