Owner occupier housing finance commitments rose by 0.3% in October and the total value of housing finance commitments was 1.0% higher
CoreLogic
Owner occupier housing finance commitments rose by 0.3% in October and the total value of housing finance commitments was 1.0% higher. Perhaps most importantly, investor commitments also rose by another 1.0% over the month and remained at a record high 41.4% of all lending. If you remove refinances, investors accounted for a record high 50.8% of lending in October. It's no wonder that APRA and the Reserve Bank are getting concerned and it highlights why they wrote earlier this week to ADIs reinforcing sound residential lending practices. In particular looking to put the brakes on the growth in investment mortgage lending. My take on today's housing finance data is available for a read here: (VIEW LINK)
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