The number of people taking out home loans in Australia fell in October, with borrowers wary of the widely anticipated interest rate increase in November.
Figures from the Australian Bureau of Statistics (ABS) show 62,509 people secured owner-occupier finance during October, a fall of 0.7 per cent compared to September.
Financial markets had forecast a rise of 1 per cent.
There were some positive results for October, with new lending up by 0.5 per cent for the month and finance for the construction of new homes increasing by more than 2.5 per cent.
But October brought bad news for the wholesale lending sector, with the number of loans financed by institutions other than banks, falling by more than 20 per cent. - By ABC Australia Copyright
Comment and add to the story without registration, but keep the comments meaningful please. Links are not accepted.
