Lucy Dean

$1.3b of loans reclassified as housing credit grows 6.6%

Around $55 billion worth of loans have been reclassified as owner-occupied since July 2015, the Reserve Bank of Australia reports, with $1.3 billion alone switched in ...

ECONOMY • Wed, 02 Aug 2017

Home ownership rate among young Aussies falls by 10%

The percentage of young Australians who own their own home has collapsed by 10 per cent since 2002, while average household debt has risen by nearly 100 per cent.

ECONOMY • Wed, 02 Aug 2017

Mutuals lift IO rates by up to 50 bps

Teachers Mutual Bank and its subsidiaries have announced a raft of rate hikes to their interest-only offerings, with some loans hiked by 50 basis points.

ECONOMY • Wed, 02 Aug 2017

‘Culmination’ of factors sees Australian housing market ‘lose steam’

Higher mortgage rates, affordability barriers and tighter lending criteria are biting and, as a result, the Australian housing market is “losing steam”, CoreLogic has ...

ECONOMY • Tue, 01 Aug 2017

ANZ wins FHB Canstar Bank of the Year

A major bank has won the Canstar Bank of the Year for First Home Buyers, while five separate institutions were labelled Customer-Owned Institution of the Year.

ECONOMY • Mon, 31 Jul 2017

Property crash won’t be ‘that bad’: Citibank

Australia’s housing market is cooling, but a property crash “won’t be that bad”, Citibank has said, pointing to low housing turnover and rising listings and sales as ...

PROPERTY • Fri, 28 Jul 2017

Lender cuts IO rates by 20 bps

A non-major lender has announced a spate of rate cuts across its owner-occupier loans.

LENDER • Fri, 28 Jul 2017

Macquarie grows mortgage portfolio to nearly $30bn

Expectations for the 2018 financial year are optimistic at Macquarie Group. At its annual general meeting (AGM), the group posted a growth of 2 per cent in its Australian ...

LENDER • Thu, 27 Jul 2017

Lender increases IO variable rates by 30 bps

Citibank is set to introduce a series of changes to its home loan variable rates for clients making principal and interest repayments and interest-only repayments.

LENDER • Thu, 27 Jul 2017