Low equity mortgage lending hits highest level since 2013

Tue, 28 Aug 2018

By Rebecca Howard Aug. 28 (BusinessDesk) - Low equity mortgage lending hit the highest level in July since the Reserve Bank imposed loan-to-value ratio restrictions in 2013, and could dampen expectations of a rate cut. Central bank data Monday showed loans to non-investors with LVRs above 80 percent accounted for 10.2 percent of total lending in July versus 8.6 percent in June. The level was the highest since the central bank first moved to cool the housing market in 2013. The Reserve Bank implemented the curbs to discourage banks from...

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