Via APRA banking stats for December. Monthly investor mortgages from the Big 8 rose to their equal highest since the reopening at 0.2% on the month as all majors bar NAB accelerate into the segment:
Led by Mad Macquarie:
Annual growth is still down -1.8%:
The monthly growth rate is still very low historically speaking but likely to accelerate from here and impart marginal pressure on house prices.
I wouldn’t expect the RBA and APRA to be upset about it until the average monthly rate doubles from here and runs for a year or more.
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.
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.
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