Rising rates see home lending plunge, ASX stronger, even after US jobs report drags down Wall Street

 Mortgage lending in Australia has fallen for the fourth month in a row, according to the latest data from the Australian Bureau of Statistics (ABS).

The value of new loan commitments for housing slumped 8.2 per cent, to $25.1 billion, in September.

Owner-occupier loans plunged 9.3 per cent, while investor loans fell 6 per cent during the period.

Home loan growth has seen a slowdown since June, after the Reserve Bank began rate hikes in May.

Read More: https://www.abc.net.au/news/2022-11-02/asx-australian-share-market-business-company-global-stock/101604854