Investment lending wilts at AFG

Shereel Patel
Australian Finance Group will drop its monthly mortgage index and release the data on a quarterly basis starting from July 2015.

AFG's mortgage index for June, its final monthly reading, shows a  "record-breaking" volume of A$5.1 billion in mortgages processed for the month, up 34.5 per cent on June 2014, and up 1.7 per cent on last month.

Investment loans were down to 36.9 per cent of new business nationally from a peak of 43.1 per cent in April.

The average loan size was A$461,608.