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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
The value of home loans rose a higher-than-expected 2.2% m/m in August up from -1.1% but it is still down 9.4% y/y. There was strength in both the owner occupier and investor components with them rising 2.6% m/m and 1.6% respectively.
- In terms of trends, lending to investors has driven the total with 3-month annualised momentum at 27.2%. Also, the annual rate is now down only 3% compared to last year after -7.2% in July. Whereas lending to owner occupiers is still down 12.5% y/y and 3-month momentum turned negative in August.
- The ABS is reporting that the number of owner-occupier refis fell 5.4% m/m in August to 26,539 after reaching a record high in July. It also observed that refis had been above new loans since November last year as borrowers looked for better deals given higher rates.
- Data on housing finance to new home buyers has been suspended due to “data reporting issues”.
Australia number of owner-occupier housing loans ('000s)
Source: MNI - Market News/ABS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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