New Mortgage Lending growth likely starting 2019 on a weak footing – FNB

3rd Quarter 2018 SARB New Mortgage Lending data, released in the December SARB Quarterly Bulletin, showed a significant deterioration in year-on-year growth in the Value of New Mortgage Loans Granted compared to the previous quarter, the rate moving strongly into negative territory.

This increasingly suggests that the mortgage market ended 2018 and started 2019 on a very weak footing.

The December 2018 SARB (Reserve Bank) Quarterly Bulletin showed the value of new mortgage loans granted (Residential, Commercial and Farms) to have declined at a year-on-year rate of -15.91% in the 3rd quarter of 2018, down from the +6.08% positive rate registered in the previous quarter.

Read more here: FNB Property Insights_New Mortgage Lending Environment_Jan 2019