Economy

Demand for fixed rate home loans has risen to its “highest level in more than three years”, according to Mortgage Choice’s latest research.

Genworth Mortgage Insurance has reported a 34.7 per cent drop in its net profit for the first half of 2017, reflecting lower sales of insurance and an increase in delinquencies.

Around $55 billion worth of loans have been reclassified as owner-occupied since July 2015, the Reserve Bank of Australia reports, with $1.3 billion alone switched in June this year.

The percentage of young Australians who own their own home has collapsed by 10 per cent since 2002, while average household debt has risen by nearly 100 per cent.

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 ...

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.

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 ...

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

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

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.