Home lending approvals drop in July; “will fall a lot further”

Summary: Value of loan commitments down 8.5% in July; “lending will fall a lot further”; value of owner-occupier loan approvals down 7.7%, investor approvals down 11.2%; number of home loan approvals down 5.8%. 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 which had been in place since mid-2017....

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