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Economy

‘We are in the midst of a crisis,’ says Percy

A conversation with a Sydney restaurant manager led Adelaide Bank general manager Damian Percy to realise that the housing affordability issue has reached crisis levels.

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NSW government accused of funnelling FHBs into apartments

The chief executive of a Sydney real estate group believes the state government is using first home buyers to soak up apartment supply in the nation's most expensive market.

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UBS flags reverse mortgage risk as market turns

A surprise decision by a regional bank to exclude reverse mortgage earnings from its cash profit calculations has led UBS to question whether the bank has “rung the bell” on housing.

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Housing has become ‘largest risk’ to Australia: OECD

Australian economic growth is projected to reach almost 3 per cent in 2018, but the possibility of plummeting house prices presents the country’s “largest domestic risk”.

mortgagebusiness
Channel conflict: have your say

A new survey is asking mortgage brokers for their thoughts on channel conflict, and whether they have been affected by lenders directly approaching and refinancing their clients.

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BOQ has ‘fixed’ its broker problems: Morningstar

Analysts are confident Bank of Queensland can restore its home lending to system growth after a fall in broker-originated loans drove a 3 per cent reduction in its mortgage book over 12 ...

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Credit giant to replace Australian MD

Global consumer credit reporting agency Equifax, which last year acquired Veda, has announced senior leadership changes in its Australian business.

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Delinquency rates on the rise in 2017

The performance of Australian residential mortgage-backed securities deteriorated over the first quarter of 2017, Moody’s Investors Service has reported.

mortgagebusiness
Former third-party boss to join Genworth

The former head of bank intermediaries at Suncorp, Steven Degetto, is to join a leading provider of Lenders Mortgage Insurance as chief commercial officer.

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FHBs need to save for 40 years for deposit: UBS

It could take ‘typical’ first home buyers 40 years to save enough for a Sydney home deposit, a new report has found.

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