Consumer credit applications robust, however mortgage applications continue to fall
|
Consumer Credit Demand Index by Equifax (December 2017 Quarter)
- Overall consumer credit applications rose +10.2% (vs December quarter 2016)
- Credit card applications rose by +5.8% (vs December quarter 2016)
- Personal loan applications also rose, up +14.1% (vs December quarter 2016)
- Mortgage applications fell by -7.7% (vs December quarter 2016)
NOTE:
Historically, movements in Equifax mortgage application demand data has led movements in house prices by around six to nine months. Mortgage applications are not part of the Consumer Credit Demand Index, but are a good indicator of home buyer demand, and an excellent indicator of housing turnover.