APRA investor mortgages converge on zero

APRA is out with its monthly banking statistics for October and the news is investors can’t get credit. Monthly growth at the big eight banks is stuck around zero:

	ANZ	CBA	MAC	NAB	WBC	BOQ	BEN	SUN	Total
Oct-18	-0.6	0.1	1.6	0.2	-0.2	-0.2	0.4	0.7	0.0
Sep-18	-0.4	-0.2	1.7	0.1	0.0	0.1	1.0	0.4	-0.1
Aug-18	-0.3	0.1	2.8	0.2	-0.1	-0.1	0.7	0.0	0.0
Jul-18	-0.3	-0.2	3.7	0.0	-0.1	0.2	0.4	-0.2	0.0
Jun-18	-0.1	0.3	14.0	0.5	-0.3	0.0	1.2	0.2	0.4
May-18	-0.3	-0.1	3.0	0.2	0.4	-0.8	0.7	0.2	0.1
Apr-18	-0.2	-0.1	1.9	-0.3	0.4	0.2	0.4	-2.8	0.0
Mar-18	-0.4	-0.1	1.6	0.1	0.5	0.5	0.8	-0.2	0.1
Feb-18	-0.3	-0.1	1.6	-0.1	0.5	0.5	0.1	0.0	0.1
Jan-18	-0.1	-0.1	1.3	-0.8	0.3	0.6	-0.1	-0.3	-0.1
Dec-17	0.1	-0.1	1.0	0.9	0.4	1.2	0.4	-0.2	0.3
Nov-17	0.2	-0.4	0.5	0.4	0.3	-0.6	0.1	0.1	0.1
Oct-17	0.2	0.0	0.1	0.3	0.2	0.2	-0.2	0.7	0.2

And that’s where year on year is heading:

	ANZ	CBA	MQG	NAB	WBC	BOQ	BEN	SUN	Total
Oct-18	-2.8	-0.9	43.4	1.4	1.9	1.5	6.4	-2.1	1.0
Sep-18	-2.0	-1.0	41.2	1.5	2.4	2.0	5.8	-2.1	1.2
Aug-18	-1.5	-1.1	37.5	1.7	2.9	2.0	5.0	-4.1	1.3
Jul-18	-1.4	-1.5	29.5	1.9	3.6	2.2	3.7	-3.2	1.4
Jun-18	-1.2	-4.2	24.4	2.0	4.4	1.5	2.8	-2.1	0.8
May-18	-0.7	-4.8	6.9	2.3	5.9	1.0	0.7	-0.8	0.8
Apr-18	-0.1	-4.7	2.9	2.7	6.3	2.1	0.2	-0.5	1.1
Mar-18	0.5	-4.3	1.2	3.5	6.4	2.0	0.1	2.1	1.5
Feb-18	1.4	-4.0	-0.7	4.0	6.3	1.5	-0.7	-0.1	1.7
Jan-18	2.0	-3.6	-3.0	4.5	6.1	-0.3	0.0	-0.2	1.9
Dec-17	2.0	-2.9	-5.0	5.8	5.9	-1.5	1.0	0.3	2.2
Nov-17	2.4	-2.0	-6.8	5.4	6.2	-3.0	1.8	1.2	2.5
Oct-17	2.5	-0.8	-8.0	5.4	6.7	-2.9	3.6	1.5	3.0

The chart:

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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.