Investor mortgage growth stalls completely

APRA released December mortgage lending this morning and the investor retreat continues apace. Growth at top eight banks has now stalled out completely, rising just 0.6% year on year:

With month month lending still slowing even more:

ANZ	CBA	MAC	NAB	WBC	BOQ	BEN	SUN	Total
-0.5	0.2	1.4	-0.2	0.1	-0.2	0.1	0.4	0.0
-0.4	0.1	1.2	0.1	-0.1	0.3	0.6	0.3	0.0
-0.6	0.1	1.6	0.2	-0.2	-0.2	0.4	0.7	0.0
-0.4	-0.2	1.7	0.1	0.0	0.1	1.0	0.4	-0.1
-0.3	0.1	2.8	0.2	-0.1	-0.1	0.7	0.0	0.0
-0.3	-0.2	3.7	0.0	-0.1	0.2	0.4	-0.2	0.0
-0.1	0.3	14.0	0.5	-0.3	0.0	1.2	0.2	0.4
-0.3	-0.1	3.0	0.2	0.4	-0.8	0.7	0.2	0.1
-0.2	-0.1	1.9	-0.3	0.4	0.2	0.4	-2.8	0.0
-0.4	-0.1	1.6	0.1	0.5	0.5	0.8	-0.2	0.1
-0.3	-0.1	1.6	-0.1	0.5	0.5	0.1	0.0	0.1
-0.1	-0.1	1.3	-0.8	0.3	0.6	-0.1	-0.3	-0.1
0.1	-0.1	1.0	0.9	0.4	1.2	0.4	-0.2	0.3

As ANZ literally pulls the plug, NAB joins the squeeze, WBC trends towards zero and CBA plods along:

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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.