Economy

Debt-to-income ratios will likely play a larger part in increasing mortgage application rates than serviceability changes, the CEO of banking and wealth at Suncorp has said.

The Commonwealth Bank of Australia has cut savings rates by up to 25 basis points for its savings accounts, becoming the final big four bank to announce its changes.

The prudential regulator has required several banks to tighten their intra-group funding arrangements after they were found to be in breach of prudential standards.  

Queensland-based mutual lender Heritage Bank has announced that it will be opening its first interstate branches later this year, with two branches set to open in Sydney.

A new report from CoreLogic has identified stark shifts in the property market landscape across Australia’s major capital cities.

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.