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Economy

Sydney mortgages require ‘two standard incomes’: HIA

Housing affordability levels in Sydney are “declining past a critical level”, with householders needing “more than two standard Sydney incomes” to service their home loans, the HIA has ...

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Mutuals lift IO rates by up to 50 bps

Teachers Mutual Bank and its subsidiaries have announced a raft of rate hikes to their interest-only offerings, with some loans hiked by 50 basis points.

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Foreign banks could fall under bank levy, warns APRA

Australian branches of foreign banks could be liable to pay the "big bank levy" should they exceed the liabilities threshold, the Australian Taxation Office (ATO) and Australian Prudential ...

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Bank casts doubt over borrowers 'reclassifying' mortgages

A global investment bank says it “would not be surprised” if Australian borrowers are reclassifying their mortgages from investor to owner-occupier in an effort to avoid paying higher rates

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Banks initiate CCI overhaul following ASIC audit

Several Australian banks are overhauling how they offer consumer credit insurance (CCI) after the regulator found certain "weaknesses" within their CCI processes.

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‘Culmination’ of factors sees Australian housing market ‘lose steam’

Higher mortgage rates, affordability barriers and tighter lending criteria are biting and, as a result, the Australian housing market is “losing steam”, CoreLogic has reported.

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RBA announces official cash rate call - 2017

The Reserve Bank of Australia has made its official interest rate call for August following its monthly board meeting.

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RBA stuns industry with rate call

Australia’s central bank has delivered a shocking cash rate call following today’s monthly board meeting.

mortgagebusiness
RBA leaves industry reeling with cash rate call

The Reserve Bank of Australia’s cash rate call made today has flummoxed industry pundits.

mortgagebusiness
ANZ wins FHB Canstar Bank of the Year

A major bank has won the Canstar Bank of the Year for First Home Buyers, while five separate institutions were labelled Customer-Owned Institution of the Year.

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