DEMAND for home loans eased in October, coinciding with the first of three interest rate hikes imposed by the Reserve Bank so far.
Australian Bureau of Statistics data, released on Wednesday, showed a total 63,865 home loans were granted in October, a 1.4 per cent seasonally-adjusted fall on the previous month.
Economists had expected a 2.0 per cent decline.
First homebuyers secured 26 per cent of loans granted in the month, down slightly from 26.1 per cent in September and a peak of 28.5 per cent in May.
Such borrowers have been a key plank in the recovery in the home lending market, taking advantage of low interest rates and a generous housing grant from the Federal Government.
