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Economy

‘Disgraceful’: ASIC boss slams mortgage market

ASIC chairman Greg Medcraft has given a scathing review of Australia’s home loan market and called out banks for blaming out-of-cycle rate hikes on regulatory costs.

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More than a third of mortgagors worry about job security

Job security is the number one concern for 36 per cent of Australian mortgage holders, new research has revealed.

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Investor activity making a market comeback

Investor lending has posted its largest annual increase since August 2014, rising by 27.3 per cent year-on-year, according to the latest figures from the ABS, RBA and CoreLogic.

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‘Widespread failure’ on adviser reference checks

ASIC has threatened to publicly ‘name and shame’ financial institutions that fail to conduct proper background checks on their financial advisers.

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Home ownership ‘beyond reach of a whole generation’

Unaffordable housing is leading to a permanent shift in property ownership, say senior economists from BIS Oxford Economics, and indeed several mortgage professionals have reported seeing a ...

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ING ‘fifth largest retail bank in mortgages’

A 12 per cent increase in owner-occupier home loans in 2016 has helped make ING DIRECT Australia’s “fifth largest retail bank in both household balances and mortgages”.

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ASX-listed banking group directors step down

MyState Limited has announced that two of their directors will be retiring from its board later this year.

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Aussie borrowers ‘will not be unscathed’ by US Fed’s rate hike

The US Federal Reserve’s decision to lift interest rates by 25 basis points will have knock-on effects for Australian mortgage holders, according to a credit union CEO.

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Online mortgage marketplace offers insurance rebate

HashChing is offering customers who settle a new mortgage through its platform a 25 per cent rebate off the premium of a one-year home insurance policy.

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Investors to be smashed by mortgage repricing

New capital requirements under Basel 4 could see property investors hit by rate hikes of up to 3 per cent, according to JP Morgan.

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