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Today’s housing finance data for June from the Australian Bureau of Statistics (ABS) recorded a modest rebound in mortgage commitments:
As shown above, total finance commitments (excluding refinancings) rose by 1.9% in June, with owner-occupied commitments rising 2.4% and investor commitments rising 0.5%.
However, 0ver the year, total finance commitments (excluding refinancings) crashed by 17.6%, with investor commitments tanking by 24.7% and owner-occupied falling by 14.8%.
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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.