October mortgage advances: Declining growth continues on back of ongoing residential decline
28 November 2008 | Investments | General | FNB
The October SARB outstanding mortgage advances number was released this morning, and as expected the decline in year-on-year growth continued from 16.6% in September to 16.1% in October. This is the continuation of a lengthy trend that started back in late-2006, and is the result of capital repayments steadily narrowing the gap with the plummeting value of new mortgage loans granted.
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