Economy

A non-major bank has lowered its variable rate for new and refinancing owner-occupiers on principal and interest repayments.

It is unlikely that national transaction activity and property listings would bounce back as quickly after the second lockdown in Victoria as it did after the first.

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The business lender has reported a decline of over 10 per cent in its total loan originations amid challenging economic conditions during the COVID-19 crisis.

A 79 per cent spike in the non-bank’s earnings has been spurred by a 30 per cent increase in home loan settlements.

Citi Australia has announced that its head of investment specialists, Gofran Chowdhury, has been promoted to head of banking and wealth management distribution.

A 40 per cent slide in national home values would only trigger a “small” increase in the share of mortgages at risk of default, according to a new report from the RBA.

The regional lender has launched a $2,000 cashback offer to customers that are refinancing and introduced a new variable rate for some low LVR loans.

AMP’s chairman and the chief executive of one of the group’s divisions have stepped down in response to backlash from shareholders.

A regional bank has said that it has had to “take a pause” on processing First Home Loan Deposit Scheme applications to work through a backlog that was impacting service levels.