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Australia Home Loans Sink 1.1% In January

The total number of new home loans in Australia was down a seasonally adjusted 1.1 percent on month in January, the Australian Bureau of Statistics said on Tuesday - coming in at 54,443.

That missed forecasts for a fall of 1.0 percent following the 2.3 percent drop in December.

The value of loans gained 0.5 percent to A$21.165 billion after sliding 1.1 percent in the previous month.

The total value of dwelling finance commitments excluding alterations and additions rose 0.7 percent.

Investment lending climbed 1.1 percent to A$11.902 billion after sliding 2.9 percent a month earlier.

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