Economy

Three more lenders have announced cuts to their interest rate floors for home loan serviceability assessments in response to APRA’s new guidance.

Mortgage-holders are wasting approximately $4.2 billion annually in “unnecessary” interest costs, according to new research.

Property price declines have wiped approximately $5.5 billion in revenue from state government budgets, according to a new analysis from Moody’s Investors Service. 

Credit Suisse has announced the appointment of a senior banker from Deutsche Bank in Hong Kong as the CEO of its Australian business. 

A big four bank has announced the appointment of a new chief executive officer.

The Reserve Bank will not be tempted to cut the cash rate in August, despite “significant spare capacity” remaining in the labour market, according to AMP Capital. 

The National Housing Finance and Investment Corporation has provided two loans to social and affordable housing providers, including its first construction loan to a community housing ...

The central bank is confident that its recent cuts to the cash rate, along with APRA’s changes to loan assessment requirements, will improve conditions in the credit space.

Brisbane could be the “winner” in the next stage of the housing cycle, with prices expected to rise by up to 120 per cent by 2028, according to a property industry executive. 

The head of an industry association is calling on lenders to stop “holding [borrowers] to ransom” in their “mortgage prisons” and quickly update home loan serviceability assessment criteria