Corrupted mortgage data the perfect metaphor for APRA

Monday 30 September 2019

APRA mortgage data for August is out and is all over the place like a mad woman’s piss. Here’s the big eight for investor mortgages:

	ANZ	CBA	MQG	NAB	WBC	BOQ	BEN	SUN
Aug-19	87140	155562	17300	113519	184886	12053	13640	12364
Jul-19	87729	155406	16698	114311	185615	12054	13587	12355
Jun-19	76774	133761	12643	104660	153525	11340	12811	11756
May-19	77473	133400	12532	104681	153096	11320	12932	11694
Apr-19	78018	133093	12465	105036	152588	11332	12851	11697
Mar-19	78470	132904	12372	105379	152393	11333	12772	11724
Feb-19	78936	132916	12320	105645	152368	11352	12649	11755
Jan-19	79366	132960	12223	105757	152323	11364	12597	11745
Dec-18	79790	133045	12103	105869	152453	11366	12554	11784
Nov-18	80187	132812	11938	106081	152318	11534	12538	11738
Oct-18	80470	132705	11791	105982	152432	11318	12467	11700
Sep-18	80916	132539	11602	105750	152770	11346	12416	11622
Aug-18	81260	132838	11407	105688	152844	11336	12296	11579

Some of those changes are not credible following last month’s confession of huge upwards revisions. We simply have no way of knowing whether specufestor mortgages are rebounding or not. Monthly, pfft:

Yearly, pfft:

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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.