Home mortgage loans drop again - 2004-02-13
New housing loans have fell for a third consecutive month, providing more evidence that rising mortgage rates are starting to bite.
The number of housing finance commitments fell by 0.8 per cent in December, the Australian Bureau of Statistics said on Friday.
While this was stronger than consensus market forecasts of a 2.0 per cent fall, it was affected by a 0.9 per cent increase in refinancing, the eighth successive rise.
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