FX.co ★ Australia Home Loans Drop 2.9% In October

The value of owner-occupied home loans issued in Australia in October was down a seasonally adjusted 2.9 percent on month, coming in at A$17.16 billion.

That exceeded expectations for a decline of 4.5 percent following the 9.3 percent drop in September.

On a yearly basis, home loans stumbled 17.2 percent.

Investment lending fell 2.2 percent on month and 17/0 percent on year to A$8.62 billion.

Overall lending shed 2.7 percent on month and 17.1 percent on year to A$25.79 billion.