The Credit Impulse Dies Some More [Video]
The latest RBA and APRA stats reveals credit momentum is still slowing, and the full year results from ANZ shows the stresses in the system. And weaker building approvals are not helping either.
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The latest RBA and APRA stats reveals credit momentum is still slowing, and the full year results from ANZ shows the stresses in the system. And weaker building approvals are not helping either.
We are getting to the rub now with the RBA releasing its Credit Aggregate data to end September 2019. This is loan stock data, reflecting the net effect of new loans coming on, old loans repaid, refinancing, and any reclassification which occurred in the month. Over the month of September, total credit grew by 0.2%, … Continue reading “Credit Impulse Dies Some More”
The number of dwellings approved fell 0.8 per cent in September 2019, in trend terms, and has fallen for 22 months, according to data released by the Australian Bureau of Statistics (ABS) today. “The fall in trend dwelling approvals for September was the smallest monthly decline in six months,” said Daniel Rossi, Director of Construction … Continue reading “Dwelling Approvals Fell Again In September”
As expected, the Fed cut rates again following their latest meeting. Its worth noting a slight change of tone, which some suggest this may be the last for some time. Worth reflecting though, if we are not in an economic crisis, just why are rates so low, and what firepower remains if one emerges? Their … Continue reading “Fed Cuts Again”
We examine the latest ABS CPI data – but how believable is it?
Genworth, the Lenders Mortgage Insurer released their third quarter results today. Their statutory net profit after tax (NPAT) in 3Q19 was $25.1 million (3Q18: $19.6 million) and their underlying NPAT2 of $26.5 million (3Q18: $20.4 million). Genworth said 3Q19 financial performance was “solid” with gross written premium up 24.4% from growth in our traditional lenders … Continue reading “Mortgage Delinquencies Tick Higher As More Higher LVR Loans Written”
The Consumer Price Index (CPI) rose 0.5 per cent in the September 2019 quarter, according to the latest Australian Bureau of Statistics (ABS) figures. This follows a rise of 0.6 per cent in the June 2019 quarter. All groups CPI seasonally adjusted rose 0.3%. The trimmed mean rose 0.4%, following a rise of 0.4% in … Continue reading “CPI Continues Below RBA Target”
We look at the details outlined in the new Federal Government scheme to assist First Time Buyers. https://www.treasury.gov.au/sites/default/files/2019-10/c2019-23295-nhfic-explanatorystatement.pdf https://www.treasury.gov.au/consultation/c2019-23295
We look at the details outlined in the new Federal Government scheme to assist First Time Buyers. https://www.treasury.gov.au/sites/default/files/2019-10/c2019-23295-nhfic-explanatorystatement.pdf https://www.treasury.gov.au/consultation/c2019-23295
We look at the latest from the UK short term lending market as another big lender withdraws. But why inaction here? https://www.fca.org.uk/data/consumer-credit-high-cost-short-term-credit-lending-data-jan-2019 https://www.bbc.com/news/business-49878277 https://www.bbc.com/news/business-50174367 https://www.theguardian.com/money/2019/oct/25/quickquid-owner-collapses-into-administration