Ash
Michael Lynagh (62)
Found the same article from the Herald:
http://www.heraldsun.com.au/business/cba-slows-down-mortgage-loans/story-e6frfh4f-1225946528010
Firstly, some context: Commbank and Westpac are the biggest borrows of the Australian banks from overseas markets to fund their mortgage books.
Recently, Commbank and Westpac have been desperately trying to prove to overseas investors that Australia does not have a housing bubble. Westpac admitted prices were house prices were high and that we're probably in for (to paraphrase) "a year or two of stagnation", but Commbank actually went to great pains to play with numbers to show that house prices are at long term averages and are not high at all. A few articles floating around (and comments from the ABA) are saying that overseas lenders aren't buying it, so Commbank and Westpac are now barely growing their mortgage books as at - as shown by the above article.
http://www.heraldsun.com.au/business/cba-slows-down-mortgage-loans/story-e6frfh4f-1225946528010
Firstly, some context: Commbank and Westpac are the biggest borrows of the Australian banks from overseas markets to fund their mortgage books.
Recently, Commbank and Westpac have been desperately trying to prove to overseas investors that Australia does not have a housing bubble. Westpac admitted prices were house prices were high and that we're probably in for (to paraphrase) "a year or two of stagnation", but Commbank actually went to great pains to play with numbers to show that house prices are at long term averages and are not high at all. A few articles floating around (and comments from the ABA) are saying that overseas lenders aren't buying it, so Commbank and Westpac are now barely growing their mortgage books as at - as shown by the above article.