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Economy

Genworth earnings dragged into negative territory

The mortgage insurer has posted a loss after writing down $181.8 million in assets in response to the economic fallout from the COVID-19 crisis.

Genworth
Neobank slashes savings rates

Xinja has been forced to lower interest rates across its savings accounts to keep up with the RBA’s unprecedented policy moves.

Neobank slashes savings rates
FHB loans reach new heights in March

The value of new first home buyer commitments reached its highest value in 10 years, new figures from the Australian Bureau of Statistics have shown.

FHB loans reach new heights in March
Details of JobKeeper confirmed

A business that complies with the JobKeeper eligibility criteria in April will continue to receive the $1,500 per fortnight wage subsidy for the remainder of the JobKeeper period, until 27 ...

Details of JobKeeper confirmed
Record-low rates to remain for ‘at least’ three years

The RBA will keep the cash rate at its record low for the foreseeable future with no improvement in inflation and labour market conditions in sight, according to an analysis.

Record-low rates to remain for ‘at least’ three years
Loan loss charges cost big banks $6.2bn

A 227 per cent surge in credit impairment charges has dealt a $6.2-billion blow to major bank earnings, which are set to face ongoing headwinds in the coming years, according to an EY ...

Big four banks
Dwelling approvals expected to dip post-COVID-19

While data highlights “no evident impact” on dwelling approvals to March 2020, economists anticipate the new-build market to take a hit over the next coming months.

Dwelling approvals expected to dip post-COVID-19
Build your own mortgage broking business with Smartline Personal Mortgage Advisers

Promoted by Smartline. Alongside a panel of special guests including Executive Manager – Economic Research Cameron Kusher, this upcoming webinar is a unique opportunity to see why now is ...

Build your own mortgage broking business with Smartline Personal Mortgage Advisers
APRA approves bank merger

The prudential regulator has greenlighted a merger between two NSW-based lenders.

APRA approves bank merger
NSW lifts ban on on-site auctions, inspections

NSW will allow in-person property inspections and on-site auctions from this weekend, following a marked reduction in new coronavirus cases.

NSW lifts ban on on-site auctions
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