Yesterday’s Lending to households and businesses release from the ABS revealed that total mortgage lending (excluding refinancings) recovered slightly in February, but still tanked by 19% over the year in trend terms, driven by an epic 27% crash in investor commitments, whereas owner-occupied commitments also fell by 15%:
As shown above, annual investor mortgage growth is a whisker above the GFC low, which was quickly followed by a sharp V-shaped recovery.
