PHOTO: Mortgage slump
Last week’s ABS mortgage commitments data for April revealed a sharp 4.8% decline, with owner-occupied mortgages falling 5.0% and investor mortgages falling 4.2%:
The below charts plot this data against CoreLogic’s dwelling values index for May. This provides a useful guide to short-term price movements for the market, given the historically strong correlation between mortgage credit growth and dwelling values.
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