Economy

The risk of personal loan borrowers defaulting has reduced during COVID, a personal loan provider has found, as COVID-19 support mechanisms such as JobKeeper buoy repayments.

Reserve Bank governor Philip Lowe has hit back at claims that the central bank’s stance on negative interest rates is “putting bank profits ahead of jobs”.

Melbourne auction volumes have continued to plummet in the wake of the lockdown and the restrictions on movement in Victoria.

An economist has argued that increasing red tape in lending has forced FHBs out of home ownership.

A steep rise in rental stock in certain pockets of Sydney and Melbourne has exposed the pain points that have come with the COVID-19 downturn, research has shown.

Residential mortgage and deposit growth have offset a COVID-related hit to the non-major bank’s earnings.

The non-bank has successfully priced its PRS 27 transaction, issuing $1 billion worth of bonds backed by Australian mortgages.

The unemployment rate has continued to head north, despite over 100,000 Australians returning to work over the month of July.

ASIC has commenced civil penalty proceedings against a former equipment funder, which allegedly engaged in unlicensed credit activity.

The HomeBuilder package has halted the decline in new home sales, reversing a downward trend in the three months to May, according to new data.