General
Financial Aggregates Point to a Further Slowing in the Housing Market
Earlier today the Reserve Bank (RBA) released its financial aggregates data for October 2018. The housing credit data is of particular interest. It covers data from all local mortgage lenders and measures the value of mortgages outstanding. The data is important because it highlights the expansion or contraction in credit.
As at the end of October 2018 there was $1.797 trillion in outstanding housing credit. Housing was overwhelmingly the largest share of outstanding credit,…
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