The data is here: Australia data for May Home loans: +1.0% m/m (vs. expected +1.5%)
Westpac's quick response makes some very pertinent points (this is in brief):
- This is the second monthly observation since APRA's macro prudential tightening announced in late March
- Some of the rise in owner occupier loans is likely due to switching between investor and owner occupier loan products
- the value of investor loans and total value of loans ... both look to have held up a bit better than expected
- Overall, the numbers tell us little about the extent of the slowdown following the macro-prudential tightening. Other, timelier indicators such as auction activity and price growth show a material slowdown coming through
- the banks made a second round of loan rate increases in June a full picture is unlikely to emerge until much later in the year
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Update .... AUD is a little higher, dragging the NZD up a little also. NZD has lost ground net on the session so far:
![](http://az705044.vo.msecnd.net/20170711/usd-update-33-11-july-2017.png)