Higher home prices, larger loans; April home loan approvals up 4.8%

Summary: Value of loan commitments up 4.8% in April, more than expected; 24.6% higher than April 2023; Westpac: rising dwelling prices a tailwind for housing finance activity; ACGB yields down; rate-cut expectations firm; Westpac: tax cuts may provide boost as borrowing capacity expands but stretched affordability remains a drag; value of owner-occupier loan approvals up 4.3%; value of investor approvals up 5.6%; number of owner-occupier home loan approvals up 3.0%....

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