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Economy

New home sales bounce, building approvals to follow

The sale of newly built homes saw a 5.7 increase in September, the second consecutive month of growth in the sector.

House in construction
Heritage eyes 300% growth in business banking

The mutual bank intends to expand its reach in the business banking sphere, and will rely on the help of brokers to do so, its chairman has said.

Heritage bank
November rate cut ‘materially less probable’

The latest inflation data would likely provide the Reserve Bank with some “flexibility” concerning the timing of its next cut to the cash rate, according to ANZ Research.

RBA
Taking out a home loan triggers super engagement

A new industry report has found that Australians who sign up for a new residential mortgage increase engagement with their superannuation.

Home loan
Bank CEO to step down

A non-major lender has announced the resignation of its chief executive. 

Bank CEO to step down
New mortgage platform to share spoils with borrowers

A Melbourne-based fintech has officially launched a new online mortgage broking service, with a model designed to align with recommendations of the banking royal commission.

Shroogle’s co-founder and chief customer officer Justin Quay
AFCA appoints executive GM

The new appointment serves to assist the organisation in addressing legacy complaints dating back to 2008.

Appointment
Government sets price caps for FHB scheme

The federal government has released new details regarding the administration of its First Home Loan Deposit Scheme, which includes the setting of price caps for home purchases. 

mortgagebusiness
RBA’s ‘heavy lifting’ to carry housing market in 2020

National house prices are set for sustained growth after two years of steady decline, thanks to the RBA’s work to revive the economy, according to Moody’s.

Housing market growth
BOQ director steps down

The bank has announced that a non-executive director will retire from the board following the half-year results.

Bank of Queensland
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