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Financial Times / Biz - Money

Australia home loans lower for second-straight month

Home loans in Australia edged lower for the second straight month in October.

Home loans dropped 0.6 per cent month-on-month in in October, according to the Australian Bureau of Statistics, although that was up from a revised 2.5 per cent fall in September and beating a Reuters forecast of a 2.5 per cent decline.

The value of loans lifted 0.6 per cent month on month in October, as the value of loans to investors rose 1.6 per cent, offsetting flat borrowing by owner-occupiers.

The Australian dollar was mostly unchanged following the release, down 0.1 per cent at $0.7506.