Australian banks Australian interest rates

RP Data leading mortgage hints at still hot market

Monday, 29 February 2016

The RP Data leading indexes for the week are out and show a moderate slowdown in activity year over year. Mortgages are down solidly from 145 last year to 135 this year:

But activity is still much higher that 2014 when it was 120 in the comparable week. Thankfully there is evidence that listings are beginning to meet demand:

It’s no wonder prices are still rising, albeit slowly, mortgage activity has only ratcheted back from insane to strong post-macroprudential. One can’t help wondering rather bleakly what another rate cut would do.

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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.