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Today’s new mortgage data for March from the Australian Bureau of Statistics (ABS) recorded a fall prior to the coronavirus shutdown:
Total new mortgage commitments (excluding refinancings) rose by 0.2% in March, with owner-occupied mortgages rising 1.2% and investor mortgages falling 2.5%.
Year-on-year, total new mortgage commitments (excluding refinancings) rose by 17.5%, with owner-occupier mortgages rising by 22.5% and investor mortgages rising 5.3%:
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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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