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From CoreLogic comes the leading mortgage index:
I’ve marked previous years in red. The index trend remains comparably weak versus the same week in the previous three years though the level is still comfortably above 2014, as well as materially below last year.
If house price rises in the CoreLogic index (not others yet) are to continue they will have to do so despite further falls in mortgage credit growth.
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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.
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