Australia's home loans increased less than expected in June, data from the Australian Bureau of Statistics showed Wednesday.
Owner occupied mortgage commitments increased 0.4 percent on month in June, slightly slower than the forecast of 0.5 percent.
In value terms, new lending commitments to households rose 1.3 percent month-on-month, reversing a 1.6 percent fall in May.
Consistent with recent house price movements, the decline in new lending commitments for dwellings has slowed in recent months, Director of Financial Statistics, Ben Dorber said.
"In June we saw rises in new lending commitments for both owner occupier and investor dwellings for the first time in over a year. Investor lending, however, remains well down from its peak and the rise in June was relatively small, up 0.5 per cent," he said.
Further, data showed that the number of loans to owner occupier first home buyers rose 2.1 percent in June. At the same time, personal finance rose 4.9 percent in contrast to a 0.2 percent fall in May.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2141120/
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