Partial Mortgage Prepayments and Housing Credit Growth

Marc-Oliver Thurner and Alexandra Dwyer
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Marc-Oliver Thurner: Reserve Bank of Australia
Alexandra Dwyer: Reserve Bank of Australia

RBA Bulletin (Print copy discontinued), 2013, 31-38

Abstract: Changes in lending rates have an important influence on the pace at which households prepay their mortgages. This has implications for housing credit growth. The effect of the fall in lending rates since October 2011 on prepayments is by itself estimated to have led to a ½ to ¾ percentage point reduction in year-ended housing credit growth as of June 2013.

Keywords: Monetary policy; prepayments; mortgages; lending rates; households; credit growth (search for similar items in EconPapers)
Date: 2013
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