Summary: Value of loan commitments down 4.4% in June; “more significant declines to come”; holiday disruptions in April, May conceal “turning point”; value of owner-occupier loan approvals down 3.3%, investor approvals down 6.3%; number of home loan approvals down 2.6%. After the RBA reduced its cash rate target in a series of cuts beginning in mid-2019 the number and value of approvals began to noticeably increase, potentially ending the downtrend...