The latest APRA figures showed that loans with redraw and offset facilities have continued to flourish and become more popular than ever before.
But check these two charts out below.
Firstly, a massive $44 billion of loans of $96 billion new residential housing loans written in the June quarter were accounted for by interest only products.
And secondly, to put this in its recent historical context, $44 billion reprsents an incredible 45.8 per cent of new loan exposures written.
In summary, it is true that offsets and redraw facilities are included in new loan products more than has ever been the case before.
However, with somewhere now approaching half of new loans written not requiring immediate repayments against the loan principal there appears to be an increasingly heavy reliance on borrowers managing their personal finances responsibly.