Aussie mortgage demand fades as interest rates rise

Friday, 29 April 2022

The Reserve Bank of Australia (RBA) has released mortgage growth data for March, which reveals that Aussie mortgage demand continues to soften.

Quarterly mortgage credit growth slowed further to 1.9% – down 0.2% from January’s 12-year high:

Nevertheless, owner-occupiers continue to drive mortgage growth, rising by 2.0% over the quarter versus 1.7% growth for investors:

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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.