Australian EconomyAustralian interest rates

Rebounding credit growth has RBA on alert

Leith van Onselen
Tuesday, 31 October 2023
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The Reserve Bank of Australia (RBA) has released its financial aggregates for September, which came in stronger than expected.

Quarterly housing credit growth rebounded marginally to 1.0% in September:

Quarterly mortgage growth

This was driven by owner-occupiers, where mortgage growth was 1.1% versus just 0.75% growth for investors:

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Mortgage growth by segment

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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.