Mortgages are still OK

Via CoreLogic weekly indicators, listings are not OK:

Mortgages are OK:

It does not look like a market about to see crashing prices on these metrics. But the leading mortgage index does not include investors who are under extreme stress owing to the rental crunch. And they play an outsized role on house prices.

So I still see price deflation ahead. Full report.

David Llewellyn-Smith
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