Mortgage lending growth remains subdued in March: RBA

Mortgage lending growth remained at record low levels in March, according to RBA figures.

Housing credit increased by 0.4% over March following an increase of 0.4% over February.

Over the year to March, housing credit rose by 4.4% - the slowest annual pace of mortgage lending growth for RBA data going back to 1976.

Total credit provided to the private sector by financial intermediaries rose by 0.2% over March after increasing by 0.2% over February.

Over the year to March, total credit rose by 3.2%.

Other personal credit (personal loans, credit cards) rose by 0.1% over March after increasing by 0.1% over February. Over the year to March, other personal credit decreased by 0.1%.

Business credit was unchanged over March after decreasing by 0.2% over February. Over the year to March, business credit increased by 1.6%.