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Economy

Mortgage refinancing to become paperless

Applications to refinance will become paperless in three Australian states as the transition to electronic transactions is rolled out.

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RBA announces cash rate decision

The Reserve Bank has announced its cash rate call following its monthly board meeting today.

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Bank cuts loan processing times by 99%

Suncorp Bank has revealed that it has reduced the time taken to change the interest rate on a customer’s home loan from three days to under 20 minutes.

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Analyst raises concerns over $52bn in reclassified loans

A banking analyst has questioned the accuracy of bank reporting after the RBA revealed that $52 billion worth of loans have been switched between investor and owner-occupier categories since ...

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Heritage boss reveals digital transformation plans

Heritage Bank chief executive Peter Lock has explained why potential reforms for the mutual sector would allow the group to raise capital and invest in its digital platforms.

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FHB reforms could be ‘self-defeating’ if prices surge

CoreLogic’s head of research Tim Lawless has warned that the NSW government’s decision to scrap stamp duty for first home buyers could have an inflationary impact on house prices.

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Regional markets showing ‘substantial’ LVR variability

Fresh figures from CoreLogic and Equifax have revealed that average application LVRs in regional housing markets are exhibiting high levels of variation across mining and coastal towns.

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Recession likely in the coming years: Pimco

The possibility that global markets could plunge into a recession in the next five years is “around 70 per cent”, according to Pimco.

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Most affordable suburbs in Australia revealed

Greater Hobart offers the most affordable options for first home buyers hoping to live close to a CBD, while units are most affordable in Greater Adelaide, a new report has revealed.

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Sentiment turns, investors exit as housing comes off the boil

Australians are increasingly becoming bearish towards real estate, with fresh figures revealing a significant decline in buyer sentiment as prices cool.

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