Economy

Home sales on the rise despite struggling market
9 June 2020
Home sales on the rise

New CoreLogic data shows there was a rise in the number of homes sold in May when compared with April, despite falling GDP, a drop in wages paid and the first month-on-month decline in ...

Now is the time to join Aussie and find business happiness
8 June 2020
Now is the time to join Aussie and find business happiness

Promoted by Aussie Australia’s leading mortgage broker, Aussie, has launched a major expansion plan to recruit brokers and other professionals to expand their broker and franchise network ...

Delinquencies spike ahead of deferral program
8 June 2020
Delinquencies spike ahead of deferral program

A sharp increase in mortgage delinquencies was recorded over the March quarter, before lenders commenced offering mortgage repayment relief, according to Moody’s.

Bank adopts digital DVS, pre-application form
5 June 2020
Bank adopts digital DVS, pre-application form

AMP Bank has launched a range of technology enhancements to its home loan process, including digital pre-application, electronic signatures and remote VOI.

Big banks to withstand surge in fintech disruption: S&P
5 June 2020
fintech

The “mortgage-focused” model of the major banks will help them absorb an acceleration in fintech adoption in response to COVID-19, according to S&P Global.

Government unveils housing stimulus
4 June 2020
Government unveils housing stimulus

The federal government has announced a new $700-million housing stimulus package aimed at rekindling property market activity.

ASIC criticises ME Bank’s handling of redraw changes
4 June 2020
ASIC criticises ME Bank’s handling of redraw changes

The financial services regulator has “concerns” over ME Bank’s handling of its redraw matter, telling an urgent public hearing it “could have and should have been handled better”

Approvals rise but not expected to last
4 June 2020
mortgagebusiness

New dwelling approval figures are positive but lag behind the true impact of COVID-19, according to senior economists.

Australia now in recession, says Frydenberg
3 June 2020
Australia now in recession, says Frydenberg

The economy contracted by 0.3 per cent in the March quarter, ending Australia’s 29-year period of economic expansion, with Treasurer Josh Frydenberg suggesting that the country is now in ...

ME Bank called back in for questioning
3 June 2020
mortgagebusiness

The lender and financial regulators face a new round of questioning in front of the economics committee today, after the chair found discrepancies in responses that he said were “deeply ...