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Economy

Clearance rates hit COVID high

Auction clearance rates have risen to their highest level since the onset of the COVID-19 crisis, new data has revealed.

Clearance rates hit COVID high
House listings, sale volumes plummet amid COVID-19

Modelling of sales volumes by CoreLogic has shown that across Australia, residential property sales may have declined by about 40 per cent over April.

house for sale
NSW grants early relief to SMEs

The NSW government has eased social distancing restrictions, enabling small businesses to open their doors to a larger number of patrons.

NSW grants early relief to SMEs
P&N Bank reduces servicing assessment rate

The bank has reduced its qualifying rate in a bid to maintain its competitive position in the market.

reduces servicing assessment rate
Banks will need to change the way they assess risk: Volt CEO

Mainstream lenders are “going to have to develop new skills” to assess serviceability as a result of COVID-19 fallout, the co-founder and CEO of the neobank has suggested.

Banks will need to change the way they assess risk: Volt CEO
Senator calls on banks to extend IO periods

A Liberal senator for WA has urged lenders to extend interest-only periods for borrowers to help reduce hardship levels during COVID-19, noting that exemptions are in place that allow them ...

Senator calls on banks to extend IO periods
Finsure announces strategic partnership

The aggregator has announced a new partnership with CoreLogic, providing its brokers with up-to-date property information and analysis.

Finsure announces strategic partnership
COVID-19 shake-up to last for financial services

Dampened interest rates, and a surge in demand for digital services and corporate accountability have been listed among the long-term effects that will linger for financial services ...

COVID-19 shake-up to last for financial services
Big bank credit losses to far exceed mutuals: S&P

Credit losses across the big four banks are set to more than double those recorded by the mutual sector, S&P has projected.

S&P Global Ratings
Major bank ‘accepts the gravity’ of AUSTRAC claims

A big four bank has filed its defence to AUSTRAC’s claims that it had breached AML/CTF obligations, stating it “accepts the gravity” of the claims and admitting several breaches.

Major bank ‘accepts the gravity’ of AUSTRAC claims
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