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Financial News: Australia's Home Loan Commitment Rises In November

Australia's Home Loan Commitment Rises In November

01/16/2020 - 01:57:00 (RTTNews)

(RTTNews) - Australia's new home loan commitment increased in November, the Australian Bureau of Statistics reported Thursday. New loan commitment of owner-occupied houses grew 1.6 percent month-on-month in November, but slower than the forecast of 1.8 percent.

"Growth in the value of new loan commitments for housing continued to be underpinned by owner occupiers, with the value of new loan commitments for owner occupier housing rising 1.6 percent in November to record the sixth straight month of growth," ABS chief economist, Bruce Hockman, said.

At the same time, the number of loan commitments to owner occupier first home buyers fell 0.9 percent in November following a 0.4 percent decrease in October. This was the first back-to-back fall since January 2019.

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