Home loan lending data is due at 0130 GMT
- Home loans m/m, expected -1.8%, prior was -2.2%
- Investment lending m/m, prior was -9.0%
- Owner-occupied loan value m/m, prior was -1.9%
Also at 0130GMT is the business survey, preview here: Australian business indicators (May) due today - conditions and confidence - preview
What to expect for home loans,
via ANZ:
- We think the number of housing finance commitments fell further in April. Auction results and housing prices continued to ease in April, and this is likely to be reflected in the finance data.
- Finance approvals are already down 6% over the past four months, and ongoing credit tightening across the banks is likely to see further declines over the near term.
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this via NAB:
- On Home Loans, a debate has been growing on whether housing credit conditions will tighten materially. As such, credit-related data - particularly for housing - will receive increased attention as markets assess any fallout on the housing market.
- NAB expects home loans to have declined, but moderately in April, by 1.5%m/m (mkt: -1.9%m/m), a smaller decline than last month's -2.2% m/m.
