Australian mortgage market goes boom!

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Today’s new mortgage data for December from the Australian Bureau of Statistics (ABS) recorded more strong growth:

Total new mortgage commitments (excluding refinancings) surged by 4.4% in December, with owner-occupied mortgages rising 5.1% and investor mortgages rising 2.8%.

Year-on-year, total new mortgage commitments (excluding refinancings) rose by 14.0%, with owner-occupier mortgages rising by 17.9% and investor mortgages rising 4.9%:

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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.