Thomas Merriman

I don’t think so.

It has been over a week since the market confidence in a rate cut turned from above 10% to below 10%, sitting at 8% currently.

This is an indicator of expectations as to whether the Reserve Bank of Australia will drop interest rates to 1.75%.

Notably, this morning I was reading that NAB have actually announced that mortgage approvals for ‘owner occupiers’ are up over the past 7 weeks, despite this same time period being responsible for a dropping Auction clearance rate.
Also noteworthy, properties unsuccessful at Auction are reportedly selling prior, quite quickly in most cases.

Maybe, the market is changing, not dropping?

Thomas Merriman.