Mortgage market turns shuffling zombie

Tuesday, 8 September 2020

From CoreLogic weekly property indicators, the leading mortgage index has entered some kind of zombie state:

Materially down on last year and far down on previous. Remember that this is owner-occupiers only and investor mortgage are far worse.

Listings are still providing some market support:

But it is artificial given the huge fall in locked down Melbourne.

No much to make a specufestor cheer in this data still. Full report.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.