that lending for mortgages in the month of November hit a record high, as effects of lockdown begin to fade. According to the financial regulator, overall mortgage lending to owner occupiers rose by $11.2 billion or 0.9 per cent from the previous month, while $2.0 billion or 0.3 per cent increase was also reported in investment housing lending.
“The sustained growth in housing lending continues to reflect strong borrower demand bolstered by low mortgage interest rates,” APRA said. It added that it would be closely monitoring the data, as debt-to-income ratios rise, but does not intend to implement any new measures to cool housing lending until the effects of the capital buffer announced in October becomes clearer.
In terms of lending for mortgages made by each lender in November, ANZ continues to lag its competitors, with its owner-occupier mortgages reaching $1.73749 billion, a 0.44 per cent drop from a year earlier, while investor mortgages were flat at $869.19 million. It was a good month for Macquarie, whose owner-occupier mortgages jumped by 37 per cent to $447.21 million from November 2020, while its investor mortgages registered a 31 per cent gain to $314.49 million. However, Commonwealth Bank of Australia was the winner in terms of new owner-occupier mortgages, writing $3.33072 billion that month, compared with the $2.54061 billion in owner-occupier loans registered by the next biggest contributor, Westpac.
