Now might be a good time to apply for a home loan

Lenders may be slightly more motivated to deliver a good deal to loan applicants because the number of new home loans being sold fell last month.

New home loan approvals fell 6.1 per cent to 50,366 in May 2015 according to the Australian Bureau of Statistics. That result was lower than market expectations, the first fall in four months and the lowest number of approvals since August 2013.

ANZ economist David Cannington said limits on investor lending by the Australian Prudential Regulation Authority may be a key factor.

Source: The New Daily