Investing.com – The number of Australian new home loan approvals fell significantly more-than-expected in February, official data showed on Wednesday.
In a report the Australian Bureau of Statistics said the number of home loans granted fell by a seasonally adjusted -5.6% in February, after tumbling by -6.3% in January, whose figure was revised from a decline of -4.5%.
Analysts had expected the number of home loans granted to fall by -2.6% in February.
The report said that the total value of loans fell by 4.0% in February, decreasing to AUD19.3 billion, compared to AUD20.2 billion in January.
Following the release of the data, the Australian dollar was up against its U.S. counterpart, with AUD/USD gaining 0.31% to hit 1.0362.
In a report the Australian Bureau of Statistics said the number of home loans granted fell by a seasonally adjusted -5.6% in February, after tumbling by -6.3% in January, whose figure was revised from a decline of -4.5%.
Analysts had expected the number of home loans granted to fall by -2.6% in February.
The report said that the total value of loans fell by 4.0% in February, decreasing to AUD19.3 billion, compared to AUD20.2 billion in January.
Following the release of the data, the Australian dollar was up against its U.S. counterpart, with AUD/USD gaining 0.31% to hit 1.0362.