August home loan approvals up 2.2%; “coming from a weak starting point”

03 October 2023

 

Summary: Value of loan commitments up 2.2% in August, more than expected; 9.4% lower than August 2022; Westpac: a gradual up-trend coming from weak starting point; value of owner-occupier loan approvals up 2.6%; investor approvals up 1.6%; number of owner-occupier home loan approvals up 2.5%. The number and value of home-loan approvals began to noticeably increase after the RBA reduced its cash rate target in a series of cuts beginning...

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