THE value of owner-occupier refinancing between lenders rose 9.1% to a new high of $13.4bn in Nov 2022 (seasonally adjusted), while total new loan commitments for housing fell 3.7%, according to data released last week by the Australian Bureau of Statistics (ABS).
Dane Mead, acting ABS head of Finance and Wealth, said: "More borrowers switched lenders for lower interest rates as the RBA's cash rate target continued to rise."
Loan commitments declined.
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