AUD: Consumer Sentiment Eased Back - TDS

AUD: Consumer Sentiment Eased Back - TDS

Research Team at TDS, notes that the Australia’s March consumer sentiment eased back to 99.1 after the inexplicable +4.2% to 101.3 in Feb.

Key Quotes

“A small fall was not a surprise, and 99.1 remains within the range of recent months. Jan home loans slid -3.9%/mth, on par with expectations. Blockbuster refinancing after the out-of-cycle-hikes in October last year spurred complacent households into action.

Over Nov-Dec mortgage refinancing jumped nearly +10% and the share of fixed-rate home loans (2+years not honeymoon rates) surged from 9.1% in October to 13.6% in February. Hence the fall in Jan.”


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