Banks overwhelmed by unprecedented mortgage demand – MacroBusiness

All recent data shows that Australian mortgage demand is white hot.
The official lending commitments data from the Australian Bureau of Statistics (ABS) showed that the value of new mortgages (excluding refinancings) issued in December surged to record highs following explosive 31% year-on-year growth.
This growth was driven by owner-occupiers, where the value mortgages issued rocketed by 39% in calendar year 2020:
The CBA’s internal data for January also showed that new lending for housing soared…

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