Economy

Lenders will be allowed to extend their pre-approval period for borrowers using the First Home Loan Deposit Scheme given the coronavirus pandemic, the NHFIC has said.

The Reserve Bank has “no appetite” for negative interest rates, with the current cash rate locked in for an “extended period”, the central bank has confirmed.

The number of dwellings approved for construction in February jumped by almost 20 per cent when compared with January, highlighting the strength of the market prior to the coronavirus hit

The rapid move to support digital mortgages amid the coronavirus pandemic “will have a dramatic effect” on how people will transact on mortgages in future, the CEOs of NAB and ANZ have ...

Mortgage holders will be breathing a “sigh of relief” following the federal government’s announcement of a new $130-billion support package, according to analysts.

The federal government has committed an additional $130 billion in support to protect jobs threatened by the economic fallout from the coronavirus outbreak. 

New government-led interventions in the housing market in response to the coronavirus outbreak are set to further hinder transaction activity, according to Domain.

The number of owners withdrawing their property from auction soared to 40 per cent last week, following the introduction of a ban on auctions and open homes, according to CoreLogic.

The government has introduced new regulations that will see all foreign investments in Australia screened for approval, regardless of the value or nature of the foreign investor.

The economic consequences of the coronavirus pandemic have prompted more non-bank lenders to make changes to their credit policies, which include a tightening of risk appetite.