Economy

The Victorian government has announced new $5,000 grants for businesses impacted by the second round of restrictions across metropolitan Melbourne and Mitchell Shire.

A big four bank has announced that it will tighten its serviceability criteria for mortgage applications by lowering its debt-to-income threshold.

A buyer’s agent believes the housing market will remain robust even after the expiry of the banks’ mortgage repayment deferrals, adding it had been strengthening since May.

The “large-scale shift” to digital banking and remote work off the back of the COVID-19 crisis has heightened the banking sector’s exposure to cyber attack, according to Moody’s.

The full impact of the COVID-19 crisis  has been reflected in the latest home loan approval data, with sharp falls in both owner-occupied and investor lending activity.

The banking sector’s commitment to extend loan repayment holidays for distressed borrowers could prolong the deterioration in credit quality and require higher loan loss provisions, ...

Fintech lender 86 400 has reported that it has settled $40 million in loans since launching its digital mortgage offering in November last year.

Tasmania is the first state to announce that it is now accepting applications for the HomeBuilder grants, while Queensland has announced its support for the measure.

An expansion of the quantitative easing program may be the only monetary policy lever at the Reserve Bank’s disposal if the market requires further stimulus, according to AMP economist Shane ...

Australian banks have announced that they will support customers with a new phase of COVID-19 support, extending mortgage repayment deferrals by another four months, where appropriate.