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Today’s new mortgage data from the Australian Bureau of Statistics (ABS) recorded a strong rebound in July as COVID-19 restrictions were eased:
The next chart plots the time series:
Total new mortgage commitments (excluding refinancings) rose by 8.9% in July, with owner-occupied mortgages surging 10.7% and investor mortgages rising 3.5%.
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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.