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The housing market itself has been experiencing a period of adjustment. After a surge in prices during the pandemic, the market has cooled somewhat, with prices stabilizing or even experiencing a slight decline in some areas. This has, in turn, affected the demand for home loans, as potential buyers reassess their options. The Reserve Bank's actions, such as the OCR adjustments, have had a direct impact on the market, influencing both buyer and seller behavior. The overall sentiment in the market is one of cautious optimism, with both buyers and sellers carefully evaluating their positions.
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