ON THE MONEY
STUART THEOBALD: Where the acceleration in mortgage credit is going
20 November 2022 - 18:43
Something odd has happened in SA’s lending markets since Covid-19. There has been a remarkable acceleration in mortgage credit granted.
The lockdowns of 2020 led to a dramatic fall in lending across all credit types, but the recovery since has shown a surprising outperformance of mortgages. Secured credit (largely vehicle finance) has resumed its pre-Covid trajectory and unsecured credit granting has lagged. But mortgage levels are beating records from before the global financial crisis...
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