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Economy

Mortgage demand spikes, investor demand turns positive

The rebound in the home loan market has gathered momentum, with investor demand entering positive territory for the first time in two years, new ABS data has revealed.

Mortgage demand spikes
Auction volumes bounce after slow start to 2020

The number of homes taken to auction across the nation almost doubled week-on-week, following on from a seasonal lull in auction activity so far in 2020.

Auction volumes bounce after slow start to 2020
Coronavirus-hit businesses offered loan assistance

Westpac Group has announced a range of support measures for business customers financially affected by the coronavirus outbreak, including loan deferrals and extensions.

Westpac
Investors bear brunt of ‘loyalty tax’

Loyal investors have been hit hardest by the pricing gap between new and existing customers, new data has revealed.

Empty pocket
QE on the way despite ‘hawkish’ RBA rhetoric

There’s a “high chance” that quantitative easing will be required following additional cuts to the cash rate, despite the RBA’s “upbeat” economic outlook, according to one senior economist

RBA
Major bank slashes floor rate

A big four bank has updated its home loan serviceability assessment policy for the second time in response to APRA’s regulatory amendments.

ANZ
Leveraged appoints new head

Bendigo and Adelaide Bank subsidiary Leveraged Equities Ltd has announced the appointment of Lily Elliott as its new head.

Leveraged appoints new head
AMP hit with $5m penalty

The Federal Court has ordered the wealth giant to pay a $5-million penalty after the bank failed to prevent its financial planners from engaging in insurance churn.

mortgagebusiness
RBA weary of rate-driven mortgage boom

“It is possible to have too much of a good thing,” RBA governor Philip Lowe has warned in reference to a rate-induced spike in housing credit demand.

Philip Lowe
Genworth cashes in on market rebound

The lender’s mortgage insurance company has reported a 60 per cent increase in its statutory profit and has also announced the appointment of its new chief executive.

Genworth
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