As read in Mortgagebusiness online The percentage of first home buyers in the owner-occupier market has plunged to the lowest level in a quarter of a century, a new report has revealed. The number of Australian first home buyers decreased by 6.7 per cent to 21,825 during the September quarter, according to Adelaide Bank general […]
As read in the Courier – SAY goodbye to the $100 note. Australia looks set to follow in the footsteps of Venezuela and India by abolishing the country’s highest-denomination banknote in a bid to crack down on the “black economy”. Speaking to ABC radio on Wednesday, Revenue and Financial Services Minister Kelly O’Dwyer flagged a […]
As read in MortgageBusiness online – Recent decisions made by the major banks to lift their fixed-rate mortgages suggest that variable rate hikes are on the way, according to mortgage comparison site RateCity. CBA lifted the rate of its three-year fixed rate by 20 percentage points to 4.24 per cent last Friday. The major bank also […]
As read in The Adviser – Australia’s 25-year recession-free stretch could come to an end if low rates continue to accelerate house prices and subsequently weaken demand and construction activity, according to the OECD. In an economic forecast published this week, the Organisation for Economic Co-operation and Development says the cash rate should begin rising […]
As read in The Adviser Nine in 10 Australian borrowers are said to be going “above and beyond” to fast-track the repayment of their home loans, according to new research. A national survey conducted by comparison website finder.com.au questioned 2,005 homeowners on their mortgage repayments. According to the results, 89 per cent said they had tried to […]
As read in MortgageBusiness Online – Professional services giant KPMG believes Australia’s major banks will be “invisible” in less than 15 years, by which time customer service call centres and branch networks will be non-existent. KPMG partner and head of banking Ian Pollari said that by 2030 technology will drive an even deeper fundamental shift […]
Key points Donald Trump’s election as President of the United States risks ushering in a period of policy uncertainty which could cause further share market weakness in the short term. Australia and Asia generally are particularly exposed to this given the high trade exposure regionally. After a seemingly long and difficult campaign Donald Trump has […]
As read in The Adviser -PLAN Australia has revealed it will partner with Virgin Money to offer its members a new home loan product. PLAN Australia CEO Phil Quin-Conroy said the group is excited to be partnering with Virgin Money and to bring the opportunity of a new home loan product to its members and their customers. “We’re […]
As read in the Australian Broker Online – The Reserve Bank of Australia has chosen to leave the cash rate on hold in October after the most recent cut from 1.75% to 1.5% in August. The decision was expected according to a survey of 33 economists by finder.com who unanimously forecast that rates would be […]
As read in the Aust Broker Online -JP Morgan has warned that widespread price discounting in the mortgage sector could soon end as the major banks face the task of preserving mortgage profitability. The JP Morgan Australian Mortgage Industry Report – Volume 23, released yesterday, explored the sustainability of the major lenders’ current mortgage strategies and their […]
