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Home loan approvals fall 1.0% in May

Dollar.jpgThe number of home loans approved fell 1.0 per cent in May, beating market expectations of a 2.0 per cent drop.

The value of total housing finance rose 1.0 per cent in the month, seasonally adjusted data from the Australian Bureau of Statistics shows.

Loans approved for owner-occupied housing, based on their value, dropped 0.6 per cent and loans for investment housing rose 3.9 per cent.

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