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Budget 2023–24 released: What you need to know

The Labor government has handed down its federal budget for the new financial year. Here’s what you need to know relating to ...

Housing a ‘big priority’ in 2023 budget: Treasurer

The federal budget released today (9 May) is expected to deliver a swathe of affordable housing policies, as supply ...

Westpac settles $50bn in 6 months

The major bank wrote almost $50 billion in new home loans in 1H23, with the proprietary channel originating less than half of ...

Building approvals fell in March

The ABS has released its latest building approvals data, revealing a decline in approvals in March following a rise in ...

Shadow assistant treasurer resigns

The shadow assistant treasurer and shadow financial services minister has announced his resignation to ‘focus on his family’

Construction loan demand falls to new low

The number of owner-occupiers taking out loans to build a home has fallen to record-low levels, new data has revealed.

ANZ book bolstered by brokers

Mortgage brokers originated 64 per cent of ANZ’s new mortgages in 1H23, up 11 percentage points on the same period last year

Refinance activity breaks records, new mortgage lending rises

March saw a new record in refinance activity and the first time in over a year that the value of new home lending increased

Banks begin to pass on rate hike to customers

The big four banks have passed on the central bank’s rate hike for May, as mortgage holders brace for higher repayments.*

Economic forecasting can be wrong, RBA warns

The central bank has reiterated that its forecast is not “pure predictions of the future”.

AI geared to protect banks against fraud

A major bank says using AI can help fight fraud and enhance customer experience. 

Bank of Sydney appoints new CEO

The former chief executive of MyState Ltd is set to join the non-major bank as its new CEO later this month.

Mortgage costs increase by almost 80%

Rising interest rates have driven up mortgage bills for employee households by a whopping 78.9 per cent for the year to 31 ...

Has the RBA ‘gone too far’?

The central bank unexpectedly lifted the official cash rate during the May meeting, with some economists warning this could ...

Consumer confidence may have lifted too early

Home owner confidence jumped 3.7 points, just before the central bank pumped up the cash rate by a further 25 bps.

Greens calls on government to freeze mortgage rates

Following the RBA’s decision to raise rates, the leader of the Australian Greens has called on the government to “step in” ...

Build-to-rent project for women piloted in ACT

The scheme could pave the way for at-risk women to transition from renting to home ownership by accumulating a home loan ...

‘Further tightening may be required’, RBA warns

The central bank has surprised the market by raising the cash rate and is warning that further tightening of monetary policy ...

Cash rate hits 11-year high

The official cash rate has been hiked to 3.85 per cent, the highest level since 2012. 

Farewell to Citi’s mortgage distribution team

Matt Wood, the head of mortgage distribution at Citi, and several members of the third-party channel team have been made ...

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