APRA's new curbs on mortgage lending drew muted support yesterday from one section of the target market for the measure - the ratings agency Moody's Investors Service.The curbs, Moody's said, "are supportive of Australia's sovereign credit profile, but we do not expect the build-up in household leverage to reverse."Moody's restated that: "Household debt does not pose a direct and immediate risk to the government balance sheet" but projected no real change in core dynamics."We think that household debt is likely to continue to grow in aggregate as low interest rates and expectations of continuing rises in house prices encourage purchases."Moody's saw a muted restrain on the macroprudential steps by APRA over the last two weeks."By imposing more spread-out repayment of mortgages, the new measures will raise recurring costs for some households, potentially deterring demand. They will also dampen appetite for mortgages from buyers who would have relied on capital gains to pay off their debt," Moody's said."Overall, the measures are likely to weigh on demand for property at the margins."?? In the weekend just past the impact looks to have been non-existent.CoreLogic's weekly summary on the housing market yesterday said "the busiest week for auctions so far this year returned a preliminary clearance rate of 77.6 per cent."CoreLogic estimated the prior week's rate at 75.9 per cent.On the other hand, banks are reeling in lending for investors to a degree. ABS data for February 2017, with the lowest annual rate of growth in investor lending in five months.Overall, in the value of all new home loans declined 2.7 per cent.The quarterly rate of change fell to negative one per cent, "the first time since September 2016 that the quarterly number has fallen into the red," Credit Suisse commentator Sean Keane wrote yesterday.