Reserve Bank of Australia Housing Credit m/m reflects changes in the amount of housing loans for purchasing homes granted to individuals in the reported month compared to the previous month.
The total indicator figure includes statistics on all mortgage loans for the purchase of own homes and those taken by investors for the purchase of housing for resale or rent. The full report contains separate figures for these two categories of borrowers.
Housing credit characterizes the level of the country's banking sector development, consumer well-being and, in part, the situation in the residential housing market. This indicator is not predictive: people usually take more mortgage loans when the interest rate decreases or when the labor market grows (households become more confident in future incomes). This figure is rarely interpreted as a separate indicator and is usually analyzed in conjunction with other indicators, such as consumer spending, wages, banking sector development.
In general, the housing credit growth in Australia is seen as favorable for the Australian dollar, as it indicates an increase in economic activity.
The chart of the entire available history of the "Reserve Bank of Australia (RBA) Housing Credit m/m" macroeconomic indicator.
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