Fed: Housing sector hits snag after fall in home loans

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Fed: Housing sector hits snag after fall in home loans

By Shane Wright

CANBERRA, Jan 21 AAP - The surge in the housing sector which has kept the Australianeconomy ahead of the world hit a snag today with another fall in home loans.

Home financing dropped 0.3 per cent in November, its second successive fall, aftereconomists had earlier predicted an increase.

While the average home loan climbed $1,100 to $152,300, the number of constructionfinance commitments dropped 1.1 per cent.

It was the first fall in construction finance for 10 months.

Despite the drop in figures, home loans were still 17 per cent up on the same timelast …