Investor mortgages run for the hills

APRA monthly investor mortgages are out for September and there isn’t much joy here for house prices. The ANZ tearaway cratered, CBA is firm but the other two majors are retrenching for net result of zero growth:

Year on year is falling steadily

For a “community bank” Bendigo sure looks like a credit cavalier. Still, it can’t compete with Mad Macquarie:

Some of this will doubtless be impacted by the Melbourne lockdown. Perhaps, especially, ANZ.

Even so, investor mortgages remain historically very weak and there is no house price support here. For now, owner-occupiers are on their own. If only they had the sense to let the market fall.

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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.