This graph shows housing loan repayments as a share of outstanding credit, broken down into interest payments and repayments of principal, including through higher balances in offset accounts (Graph 11). Graph 11  There are three points that I would draw your attention to.
The sharp reduction in bank lending rates has been accompanied by easier access to funding, as recent surveys have shown.1 These positive developments have been supported by the second series of targeted longer-term refinancing operations, as a result of which banks are passing on the favourable funding conditions to their customers.