Mortgages hog credit growth

Friday, 28 February 2014

The RBA credit aggregates for January are out and its happy housing month with mortgage credit putting the foot down. Monthly growth remained at 0.5% for owner occupiers and 0.8% for investors:

Year on year the rises are now accelerating at 4.8% for owner occupiers and 7.4% for investors:

Personal credit is going nowhere at 0.1 on the month and 1% year on year. Business credit likewise at 0.2% for the month and 2% year on year.

Whocouldanode?

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.