Commercial loans recover in August

Commercial loans including mortgages to investors rose 2.3 per cent in August, while home loans to owner-occupiers were also up 0.9 per cent.

Total new lending commitments rebounded in August after slipping the previous month.

Commercial loans including mortgages to investors rose 2.3 per cent to $43.5 billion in August, seasonally adjusted figures from the Australian Bureau of Statistics showed on Monday.

Loans to businesses and investors had dived in July, falling from a seven-month high.

Home loans to owner occupiers also expanded 0.9 per cent in August to $21.3 billion.

The recovery partially offsets the previous month's large fall, with the effect of the Australian Prudential Regulatory Authority's March intervention in the home loan market still being being felt.

Personal loans also ticked 2.4 per cent higher in August to $6.15 billion, with most of the increase reflected in revolving credit.

Lease finance commitments came in slightly lower, down 0.6 per cent at $574 million.


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Source: AAP


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