AFG: Home loan activity crashes to five year low

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By Leith van Onselen

Australian Finance Group (AFG) has released its housing finance data for the March quarter, which registered a heavy quarterly decline in the number and value of mortgage applications, with applications also crashing over the year.

The number of mortgage applications fell by 9.7% over the March quarter and was down by 16.9% over the year, whereas the value of applications fell by 10.2% over the quarter and by 15.5% over the year:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.