While Australia’s housing market boomed without constraint over the last few months, partly due to record low-interest rates, the cash rate is unlikely to change in Tuesday’s monthly monetary board meeting. The Reserve Bank of Australia’s (RBA) statistics for lending and credit show overall mortgages rose by 0.5 percent in April and 4.4 percent over the last 12 months. Home loans for owner-occupiers rose by 0.6 percent in April and 6.2 percent over the last 12 months. Investor loans, which are much riskier in nature, also rose to its highest rate since December 2018, to a 1.1 percent annual increase. The RBA and other financial regulators have repeatedly said they would keep a close eye on the housing market. However, they would unlikely step in specifically for the housing market. It is likely that in the board meeting tomorrow, RBA Governor Philip Lowe will again reiterate this point while leaving …