Matthew Hassan, Research Analyst at Westpac, notes that Australian housing finance approvals were firmer than expected in May, the number of owner occupier loans rising 1.1% vs expectations of a 2% decline, and the value of investor loans up 0.1% in the month. Key Quotes “The result was against the wider ‘run of play’ for housing markets which has pointed to a further softening in recent months.” “The number of new owner occupier approvals, i.e. excluding refinancing, rose 1.8% to be down 2.7%yr.” “The number of construction-related owner occupier finance approvals also rose, up 0.8%mth, but down 5.2%yr.” “The number of approvals to first home buyers (FHBs) rose 1.2%mth to be up 22%yr.” “Overall, the May finance data is a little at odds with other housing market data that suggests conditions have weakened further through May-June, auction markets in particular. That was thought to be in response to tighter lending criteria. Again though, the May finance detail suggests little incremental change in lending conditions. Hopefully the next few months will clarify the situation. Until then we suspect the finance data is the ‘odd one out’.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD scope for another test of the mid-1.1800s – Commerzbank FX Street 3 years Matthew Hassan, Research Analyst at Westpac, notes that Australian housing finance approvals were firmer than expected in May, the number of owner occupier loans rising 1.1% vs expectations of a 2% decline, and the value of investor loans up 0.1% in the month. Key Quotes "The result was against the wider 'run of play' for housing markets which has pointed to a further softening in recent months." "The number of new owner occupier approvals, i.e. excluding refinancing, rose 1.8% to be down 2.7%yr." "The number of construction-related owner occupier finance approvals also rose, up 0.8%mth, but down 5.2%yr." "The number… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
