New mortgages
New mortgages registrations totalled $599.7M and the weighted average interest rate rose to 16.7 per cent in August from 11.9 per cent a year earlier. Reserve Bank statistics show that total selected assets of the life insurance companies increased 17.6 per cent in the September year. Housing and fanning mortgages increased 12.8 and 8.3 per cent respectively, but commercial mort-
gages outstanding fell 2.9 per cent Housing loan approvals from the main lending institutions (excluding trading banks) totalled $419.4M in the September quarter, down 32.5 per cent on the June quarter. The share of total approvals directed to new housing increased to 84.7 per cent compared with 58.1 per cent in the September quarter, 1984.
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Press, 26 December 1985, Page 14
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117New mortgages Press, 26 December 1985, Page 14
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