Economy

The Federal Court’s decision to dismiss ASIC’s responsible lending case against Westpac could lead to an overhaul of credit practices in the mortgage industry, according to one analyst

The head of the Australian Banking Association has said that “really strict” serviceability assessments have resulted in poor customer outcomes. 

Strong employment growth will take pressure off the Reserve Bank, but “significant spare capacity” remains in the labour market.

Virgin Money has decreased fixed rates on a number of mortgages by up to 70 basis points.

Interim CEO of BOQ Anthony Rose has told ASIC that the revised responsible lending guidance must remove incentives for lenders to lower standards in a bid to gain a competitive edge in the ...

Approximately 32 per cent of young Australians expect to purchase a home in the next five years. However, their aspirations are not driving them to take the appropriate steps required to ...

Impact of moderating house prices and the conversion of a large number of interest-only loans on delinquencies will be “limited” in the coming quarters due to “stable” GDP growth, low ...

EXCLUSIVE: A leading economic forecaster has explained that interest rates could come back to bite us when they finally return to normal levels.

A UNSW Business School academic believes Westpac’s victory over ASIC in the Federal Court is a win for common sense and “more in line with the real world”.

Representatives of a fintech lender have told ASIC that borrowers are “consistently understating” their living expenses, and have questioned the effectiveness of the HEM benchmark in ...