Housing finance data from Australia, although the focus is mainly on the Somp (separate post)

Home loans down 1.0% m/m

  • expected -1.0% m/m, prior -2.1%

Investment lending down 2.8% m/m

  • prior -1.1%

Owner occupier loans down 4.2% m/m

  • prior -2.7%

Falling house prices have taken steam out of the market for housing financing, hardly surprising. The 'construction PMI' that came out earlier this week fits in with what is going here. ps. Not trying to diminish this slow down and its impacts, its not a positive for the economy. Do keep in mind the surge in these sectors that have only recently topped out. Things do not move in straight lines for too long.

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For background, :