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.

David Llewellyn-Smith
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Comments

      • Awaiting the 1 – 1.5% 25 – 30 year OO mortgages, followed by the IP 2 – 2.5% 25 – 30 year mortgages. 20% govt. guaranteed.
        That should get the shovels moving about. We will build our way out with debt aligned to the golden residential property industry.

          • You cant get 30 year fixed interest mortgage in Australia. Wholesale interest rate swap markets only go out 10 years.
            Or has something changed while I wasn’t paying attention?