CoreLogic Housing Finance Update

The following is an extract from the June Quarter edition of the Quarterly Economic and Property Review. 

Housing finance data over the June quarter revealed subdued new lending for dwelling purchases, and a pivot toward refinancing of existing loans to help reduce housing costs.

In May, the value of new lending for the purchase of dwellings fell 11.6%, the largest decline on record. This represented a month-on-month decline of about $2.2 billion. 
 

The fall in the value of…