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The Australian Bureau of Statistics released its home loans data on Friday. Home loans in Australia dropped 6.1% in May, missing expectations for a 3.5% decline, after 0.7% rise in April. April's figure was revised down from 1.0% gain.
The value of home loans fell 5.3% in May, investment lending decreased 3.2%, while the value of total dwelling loans plunged 4.4%.
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