A rise in housing finance has not budged a weakness in the home loan sector, industry experts have noted.
There is still a weakness in the home loan sector, despite a rise in housing finance, it has been suggested.
According to a report by the Australian Associated Press, economists believe that the property lending fragilities give the central bank more room to keep the
interest rate on hold.
And this comes after the Australian Bureau of Statistics announced on Wednesday (September 8th) that owner-occupied housing was up by 1.7 per cent in July.
But CommSec economist Savanth Sebastian stated that this increase was not that significant following nine year lows in terms of property finance.
He added: "It's heartening to see at least its travelling back up in the right direction but you really wouldn't say that it's anything too dramatic."
This is bad news for those looking to take out home loans, but one tool that could help those with the products is the Commonwealth Bank's property guide iPhone app, which works out estimated dwelling lending repayments on a particular house.
By Joe Letts
