Value of New Australian Home Loans Drop

[SatelliteGuys Reporter]

In a sign the Australian housing market is continuing to cool the value of new home loans approved in June dropped 3.3 percent from the previous month according to statistics released Monday. Economists had been expecting a drop of just 1.9 percent. Analysts believe the data means Australian interest rates will likely remain unchanged at 5.25

http://www.forbes.com/home/feeds/ap/2004/08/08/ap1495677.html