New FNB figures on mortgages, credit

The SARB stats for new residential loans granted showed a significant decline in growth in the 2nd quarter and this weakening in growth in new lending may be just starting to have an impact on the overall mortgage book, causing a levelling off in growth.

According to John Loos, FNB Home Loans strategist, the high household debt-to-disposable income ratio continues to keep the household sector vulnerable to future interest rate hiking or economic slumps.

See attached detailed report.