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Big banks to withstand surge in fintech disruption: S&P

The “mortgage-focused” model of the major banks will help them absorb an acceleration in fintech adoption in response to COVID-19, according to S&P Global.

fintech
Government unveils housing stimulus

The federal government has announced a new $700-million housing stimulus package aimed at rekindling property market activity.

Government unveils housing stimulus
ASIC criticises ME Bank’s handling of redraw changes

The financial services regulator has “concerns” over ME Bank’s handling of its redraw matter, telling an urgent public hearing it “could have and should have been handled better”

ASIC criticises ME Bank’s handling of redraw changes
Approvals rise but not expected to last

New dwelling approval figures are positive but lag behind the true impact of COVID-19, according to senior economists.

mortgagebusiness
Australia now in recession, says Frydenberg

The economy contracted by 0.3 per cent in the March quarter, ending Australia’s 29-year period of economic expansion, with Treasurer Josh Frydenberg suggesting that the country is now in ...

Australia now in recession, says Frydenberg
ME Bank called back in for questioning

The lender and financial regulators face a new round of questioning in front of the economics committee today, after the chair found discrepancies in responses that he said were “deeply ...

mortgagebusiness
Calls for negative interest rates renewed

The central bank has been urged to consider further cuts to the cash rate in the wake of the unprecedented COVID-19 crisis.

Calls for negative interest rates renewed
Government to introduce new home-buying stimulus

The federal government is preparing to introduce new home-buying grants aimed at providing long-term support to the residential property sector as it grapples with the COVID-19 crisis.

Government to introduce new home-buying stimulus
Stamp duty to be scrapped by 2021, analysts predict

Two-thirds of analysts are expecting state governments to axe stamp duty in the next two months, according to a new survey.

Stamp duty
Auction numbers climb as restrictions ease

There has been an upward trend in the number of auctions held and a reduction in withdrawals since the lifting of bans on on-site auctions.

Auction numbers climb as restrictions ease
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