Australia: monthly value of home loans funded by rate type 2023

In December 2023, the value of variable rate housing loans funded in Australia, including refinanced loans, amounted to around 49.4 billion Australian dollars. In comparison, the value of fixed rate home loans funded, including refinancing, came to just over one billion Australian dollars that same month.

Monthly value of housing loans funded in Australia from December 2019 to December 2023, by rate type (in billion Australian dollars)

Characteristic	Fixed rate housing loans	Variable rate housing loans
Dec-19	5.48	31
Jan-20	4.61	27.33
Feb-20	4.23	26.3
Mar-20	4.61	29.87
Apr-20	7.57	26.47
May-20	11.25	25.9
Jun-20	14.35	26.97
Jul-20	13.85	23.75
Aug-20	12.31	22.61
Sep-20	13.76	25.12
Oct-20	13.71	26.67
Nov-20	13.05	27.1
Dec-20	15.15	29.94
Jan-21	13.36	23.84
Feb-21	14.82	25.87
Mar-21	20.03	30.87
Apr-21	20.16	27.4
May-21	22.74	28.58
Jun-21	26.11	31.39
Jul-21	26.29	30.83
Aug-21	25.71	30.19
Sep-21	24.67	29.76
Oct-21	22.8	29.52
Nov-21	25.84	34.04
Dec-21	23.9	36.08
Jan-22	15.76	29.82
Feb-22	13.07	33.44
Mar-22	11.79	42.89
Apr-22	8.02	40.75
May-22	6.73	49.79
Jun-22	5.33	52.45
Jul-22	2.75	47.37
Aug-22	2.33	50.44
Sep-22	1.9	45.75
Oct-22	1.9	45.76
Nov-22	2.47	49.06
Dec-22	2.44	47.28
Jan-23	1.88	37.53
Feb-23	2.18	38.35
Mar-23	2.79	47.74
Apr-23	2.11	39.41
May-23	2.64	51.4
Jun-23	4.5	50.51
Jul-23	4.69	44.93
Aug-23	4.08	48.91
Sep-23	2.08	46.43
Oct-23	1.17	49.4
Nov-23	1.06	52.23
Dec-23	1.04	49.47

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Release date

February 2024

More information

Region

Australia

Survey time period

December 2019 to December 2023

Supplementary notes

Includes refinancing.

According to the source a loan is considered funded once any portion of the funds is made available for the borrower to draw down according to the terms of the contract. This will occur after there is a borrower-accepted commitment to provide finance. Therefore, the monthly value of home loans funded may not correspond with the value of new borrower-accepted commitments for the month.

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