Australia: Weaker home loans data for August – TDS

Analysts at TD Securities note that Australia posted a weaker home loans data at -2.1%/m for August due to a slump in owner-occupied loan value at -2.7%/m, contrary to TDS expectations.

Key Quotes

“Tighter lending controls are the likely driver, good news since debt has been piling up since the GFC. The RBA semi-annual Financial Stability Review was released, overall a glass-half-full document with the usual list of possible downside risks.”