Banks and non-banks know what they are doing most of the time when it comes to loosening the credit taps.
So when investment lending numbers lift, as they did In July b2024 it means, usually, the chase for market share is on.
This means more months of above trend credit growth and it can’t come soon enough to alleviate the worst of the inflation crusaders.
ABS data on Friday for shows lending commitments for investor lending in July increased 5.4 per cent to $11.7 billion. This was near double the rate of growth in lending for owner-occucpiers.
New loan commitments to investors are up 35 per cent over the year.
Recently Westpac have been dialling things up. Next it will be Commonwealth Bank’s turn to have a crack.
May they keep going.