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Today’s housing finance data for May from the ABS recorded a fall in mortgage commitments:
As shown above, total finance commitments (excluding refinancings) fell by 2.4% in May, with owner-occupied commitments falling 2.7% and investor commitments falling 1.7%.
Over the year, total finance commitments (excluding refinancings) crashed by 20.9%, with investor commitments tanking by 27.8% and owner-occupied by 18.0%.
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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.
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