Mortgages dry up as banks finally do their job

Monday, 7 May 2018

Two factors determine mortgage availability. One is the price or interest rate. The second is distribution or lending standards. Both are under mounting pressure.

The MSM lending standards crunch panic is building nicely. It was headline news at Domainfax over the weekend:

To get a home loan, most people would know they might have to make sacrifices – but perhaps they don’t expect their bank to suggest they cut their $15-a-week gym membership.

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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.