As read in The Adviser new research has found brokers were responsible for more than two thirds of mortgage growth in the 12 months to June this year. Research by comparator, commissioned by the MFAA, shows mortgage brokers were responsible for 66.3 per cent of the growth in home loans for the year to […]
As read in Mortgage Business -A leading economist has warned that owner-occupier mortgages could face the same price hikes as investor loans, putting pressure on the central business bank to cut rates. AMP Capital chief economist Shane Oliver told Mortgage Business that while the effects of rate hikes on investor loans are yet to be […]
As read in Mortgage Business, NAB has justified its exit from lending to SMSFs for residential property by referring to “worrying” and “dramatic” growth in the area, while the head of an investment research company has blamed troublesome SMSF borrowing activity on non-trading lenders. Speaking at the release of the fifth Intimate with Self-Managed Superannuation […]
As read in the Aust Broker Online, Westpac has announced changes to its lending practices governing foreign buyers, in response to APRA’s push to rein in the levels of finance being supplied to investors. The major bank is attempting to curtail lending to foreign investors by writing to mortgage brokers to tell them that all […]
As read in the Aust Broker Online, the major banks’ move to reprice their residential investor loans and curb investor lending is credit positive, according to a global ratings agency. Increased lending rates are credit positive for the banks, according to Moody’s, because they rebalance the banks’ portfolios away from the higher-risk investor and interest-only […]
As read in the Aust Broker Online, a new financial literacy survey reveals alarmingly low home loan literacy levels amongst Australians consumers. The survey, conducted by industry super fund-owned bank ME, found that only 41% of Australians are confident they know enough to have the right home loan for their situation. This worsens to […]
As read in the Aust Broker Online, almost 40% of Australian jobs that exist today have a moderate to high likelihood of disappearing in the next 10 to 15 years due to technological advancements, and financial services is not immune. According to the Australia’s future workforce? Report, authored by the Committee for Economic Development of […]
As read in the Aust Broker Online, Australia’s “irrational exuberance” about borrowing money to invest in property will increase the economy’s vulnerability to a more severe downturn. According to a study conducted by PIMCO, which compares Australian borrowers to those in other countries, lower mortgage rates and house price appreciation have driven a “herd mentality” […]
As read in the Aust Broker Online, Australia’s unemployment rate has fallen 0.1% to a 12-month low of 6% in May, as 42,000 more jobs were created in our economy. According to the jobs data released by the Aust Bureau of Statistics, the participation rate also held steady at 64.7% and hours worked rose by […]
As read in the Aust Broker Online, the Federal Government’s crackdown on rule-breaking foreign property investors is working, according to Treasurer Joe Hockey. Regulations guiding foreign property investors states that non-residents can only purchase new dwellings while temporary residents can purchase one established home to use as their residence while living in Australia, provided it […]
