Summary: Value of loan commitments up 1.7% in May; housing downturn emerging; too early to see impact of May’s rate increase; value of owner-occupier loan approvals up 2.1%, investor approvals up 0.9%; number of home loan approvals up 2.9%. 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...