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Australian Homes Loans on RBA’s radar - TDS

FXStreet (Guatemala) - Analysts at TD Securities broke down a key component that is on the RBA’s agenda in respect of the monetary policy decisions.

Key Quotes:

“Home loans was less weak than expected: although the number of approvals in September fell -0.7% (mkt -0.4% although retail banks expected –2%, prior -0.9%) the value of loans jumped for both owner-occupied and investors”.

“Loans for construction rose by a decent +3.1% to be 15% higher than a year earlier”.

“Lending for investment rose by +3.7% to be 25% higher than a year ago, a hot spot firmly on the RBA’s radar screen”.

“The share of fixed loans retreated to 14.3% (2yrs or more, not 1yr honeymoon rates) reinforcing that variable/floating home loans at over 85% remains the dominant choice”.

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