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Mortgage demand freezes as interest rates screws tighten

August 2, 2022 - 11:52 -- Admin

The Australian mortgage market slumped in June after two consecutive rate hikes by the Reserve Bank of Australia (RBA). According to the Australian Bureau of Statistics (ABS), the total value of new mortgage commitments fell a seasonally adjusted 4.4% in June 2022 and was down 2.0% year-on-year: Owner-occupier commitments fell 3.3% in June, whereas investor

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