BORROWING is slowing but the number of people inquiring about taking on new debt is increasing, according to one lender.
The latest household borrowing index from HSBC bank shows inquiries about loans and mortgages were 0.9 per cent higher in the last quarter of last year, compared to the same period in 2003.
HSBC economist John Butler said: "The underlying message seems to be one in which household demand is easing, but the level of interest is still slightly higher than a year ago.
"The past has shown that inquiries are a good leading indicator for future borrowing trends and consumer confidence."
The index measures inquiries for personal loans, mortgages, and equity withdrawals. It shows that queries fell 3.4 per cent compared to the third quarter of 2003.
However, HSBC said mortgage and especially equity withdrawal demands were higher than the same time last year.
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