Loan approvals down in April

02 June 2023

 

Summary: Value of loan commitments down 2.9% in April; 24.3% lower than April 2022; Westpac: disruptions from Easter period; value of owner-occupier loan approvals down 3.8%; investor approvals down 0.9%; number of home loan approvals down 0.1%. 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 in mid-2019, potentially ending the downtrend which had...

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