Economy

A third of Australian borrowers believe that they might struggle to meet mortgage repayments if interest rates rose, according to new research.

Several industry participants have voiced concern over mortgage stress and the rising risk of defaults, as wage growth fails to keep pace with the costs of living.

The Minister for Revenue and Financial Services is calling on the states and territories to support an initiative to extend a financial literacy program for a further four years.

The country’s largest mortgage lender will challenge ASIC’s claims against it in relation to trading that allegedly affected the bank bill swap rate.

Homeloans Limited settled $2.2 billion of loans over the six months to 31 December 2017 after gaining access to a larger broker distribution network.

A mortgage comparison website has analysed how households would be impacted if mortgage rates rose to 7.1 per cent as the IMF expects.

Online lender Xinja is set to target mortgage borrowers in Australia’s capital cities after receiving its Australian credit licence.

AMP, ANZ, CBA, NAB and Westpac, after paying an additional amount of $21.4 million, have together paid a total of $51.4 million to customers who suffered loss or detriment as a result of ...

The banking sector is set to face further scrutiny into its practices, with a parliamentary committee vowing to “hold the major banks to account” as part of its review of the big four banks

A leading Australian economist has labelled the IMF’s forecast for mortgage rates hitting 7.1 per cent as “crazy” and said that such scenario would lead to “significant delinquencies”.