Aussie mortgages also down in September
Aussie Home Loans yesterday said it reported lower levels of new business in September.Australian Finance Group said mortgage approvals for the broker were down 21 per cent for September, month on month.Approvals also fell at Aussie, albeit a smaller level of 12 per cent.'It's pretty understandable when you see what is going on at the moment, on the back of an RBA increase and there is talk about what this credit crises is about, which the average consumer doesn't know, which knocks confidence about," said John Symond."With the talk of more interest rate rises, it's all bad news out there at the moment, and then there is the uncertainty of when the election will be called. "Up until September though, in the previous months we had been writing mortgages at record levels."