As read in MortgageBusiness Online – The RBA is more likely to cut the official interest rate than introduce a hike over the next 12 months, according to a leading economist. AMP Capital chief economist Shane Oliver has flagged the “risk” of a rate cut in the next year, rather than an increase to the […]
As read in the Australian Broker Online – The average age of the Australian first home buyer (FHB) has remained stable for the past two decades despite reaching an annual property price growth of 7.7% per year. A new paper from the Commonwealth Bank of Australia (CBA), CommBank Connected Future Report, found that buyers generally entered […]
As read in The Adviser online -The recent rate and policy changes by lenders has made the mortgage market “more complicated and confusing than ever before”, the CEO of mortgage broking firm Mortgage Choice has said. CEO John Flavell made the pronouncement following the release of the company’s research, which found that more than one […]
As read in MortgaeBusiness online -Treasurer Scott Morrison has revealed how the ACCC will prevent the majors from passing on the bank levy to borrowers and explained how the government body will show Australians “how to get a better deal elsewhere”. The federal Treasurer delivered a speech at Parliament House in Canberra yesterday where he […]
As read in MortgageBusiness online – The prudential regulator is seeking feedback from the banks on its plans to begin requesting additional data on borrower debt-to-income ratios. APRA this week responded to six submissions relating to its proposal to revise the current residential mortgage lending reporting requirements for banks, released in October last year. Now […]
As read in the Aust Broker Online – Two of the big four banks have announced that they are making a raft of adjustments to their interest-only lending. In an update to its brokers this week, ANZ announced that from Monday, 29 May, interest-only availability for both owner-occupier and investment lending will be restricted […]
As read in the Aust Broker Online – The long awaited Federal Budget has finally been released with a variety of measures aimed at cooling down the heated housing market and helping consumers get a fairer deal from the banks. In parliament yesterday (9 May), Scott Morrison touted the budget as credible, affordable and honest – […]
As read in The Adviser online – Finsure boss John Kolenda has urged mortgage holders to negotiate a better deal with their bank as out-of-cycle rate rises continue to plague the market. Mr Kolenda said that mortgage holders should maintain pressure on their lender to offer the most competitive interest rate available despite the Reserve […]
As read in MortgageBusiness online – Banks’ ratcheting up of interest rates is not due to funding costs as they claim, the RBA has underscored at its latest monetary policy meeting. Over the past few months, several banks have upped their interest rates, with increases from major and non-major lenders ranging from seven to 117 basis points. […]
As read in MortgageBusiness Online -The Treasurer has stressed that a housing affordability fix “must involve a scalpel, not a chainsaw” and has looked to the UK housing sector experience as “valuable” for Australia. Addressing the Australian Housing and Urban Research Institute in Melbourne yesterday, Treasurer Scott Morrison stressed that “dealing with housing affordability must […]
