Completed internal analysis conducted by APRA in 2024 on the health of the banking sector's mortgage book.

Written by Claude Haiku 4.5 from the extracted text on 27 Feb 2026. It can miss or misread redacted and scanned pages. Check the source before relying on it.

APRA's March 2024 monthly residential mortgages health check (based on January 2024 data) reveals emerging signs of housing credit slowdown amid gradually deteriorating asset quality metrics. New lending commitments declined, with owner-occupier lending reaching a six-year low share of commitments, though overall volumes remain above pre-pandemic levels. High loan-to-value ratio lending increased after three years of decline, though remains well below COVID levels and not yet a prudential concern. Non-performing loan ratios and early-stage arrears continued gradual increases, with owner-occupier NPLs approaching pre-COVID levels but described as benign. The report indicates many loans in early arrears are curing, and total prepayment buffers continue growing, though unevenly distributed across borrowers. Non-ADI lenders gained market share while competitive pressures emerged, with banks reducing cash-back refinancing offers to protect margins.