Corrupted mortgage data the perfect metaphor for APRA

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:

Aggregate, pfft:

The data is now the perfect reflection of a corrupt and broken regulator.

Sack Wayne Byers.

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