Uninspired results for Home Loans this January

Home loan demand was lower than expected for the month of January, according to the Australian Bureau of Statistics. Economists forecasted home commitments to increase by 0.5%. Instead, the values tumbled by 0.4% for the month. Despite these numbers, home loans are steady at a seasonally adjusted value of 51, 054.

Loan values for investments have also decreased by 3.3%, after rising by 40% in 2013. Surprisingly, first home buyer loans increased by 1.5% in the month after declining for the most part last year.

Read more about this on the Australian website.