Lending finance figures released today indicated that 12 year high interest rates are taking their toll not just on home buyers but also on business.
The total value of commercial finance commitments fell by 10.4 per cent in February to $45.723 billion, seasonally adjusted, according to the ABS.
Leasing finance also fell by 4.4 per cent to $596 million over the month, seasonally adjusted.
Personal finance, in contrast, managed to increase by 0.9 per cent 7.451 billion, spurred by a 22.7 per cent rise in debt consolidation activity.
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