With a long caveat found at Cameron Kusher's CoreLogic blog, take note that the latest housing finance data showed that in June 2016 there was A$32.6 billion worth of commitments with the value having increased by 2.3 per cent over the month following a rise of 1.8 per cent in May.  Although mortgage lending is rising, it remains 2.1 per cent lower than its peak in April 2015 of last year.  Over the month of June, lenders made $20.8 billion in commitments to owner occupiers and $11.8 billion in commitments to investors, Kusher wrote.  Both segments of lending rose over the month, however, owner occupier lending is 2.4 pee cent lower than its December 2015 peak while investment lending is 22.0 per cent lower than its April 2015 peak.Owner occupier lending remains quite strong and although investment lending has slowed significantly, there is now scope for it to increase over the coming months.  Without additional details on the number of investment loans it is difficult to know whether the increase is being driven by larger loan sizes, a larger number of loans or a combination of both.So demand did not die in the Australian credit market following APRA antics on investment lending.Demand is flourishing, aided by monetary policy.On August 2, the Reserve Bank decided to cut official interest rates by 25 basis points to 1.5 per cent.While the case rate reached historic lows, headline variable mortgage rates were generally reduced by much less, with each of the big four banks lowering their mortgage rates by no more than 14 basis points.  Kusher concluded this section: Despite the fact that the interest rate cuts were not passed on in full to mortgage holders, mortgage rates below four per cent are available for those who wish to move from their current lender.