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Economy

Banks tipped to ‘benefit massively’ from open data

The standing committee on economics has echoed the sentiments of fintech executives who emphasise that open data would be a positive step for the banking industry and critical for fostering ...

mortgagebusiness
FHB numbers increase in December quarter

Fresh research has revealed that the December quarter saw an increase of almost 7 per cent in the number of first home buyers nationally.

mortgagebusiness
RBA announces cash rate decision

The Reserve Bank of Australia has revealed the outcome of today’s board meeting.

mortgagebusiness
NSW must trump Victoria on housing reform: Cunningham

A real estate industry leader has called out NSW as “living in the shadow” of its southern counterparts and at risk of losing its best and brightest young people, following Victoria’s ...

mortgagebusiness
Auction clearance rates slip

After recording the strongest result since June 2015 in the last week of February, the preliminary auction clearance rate across the combined capital cities eased back in the week ending 5 ...

mortgagebusiness
OECD housing alarm ‘nothing new’, says economist

A senior economist has stressed that the OECD’s warning about Australia’s house prices is not new, although he agrees that excessive house price and household debt growth is Australia’s ...

mortgagebusiness
Dwelling approvals exceed market expectations

ANZ says that the overall increase in housing approvals in January thwarted market expectations of another decline.

mortgagebusiness
Challenger bank calls for credit card reforms

A non-major lender is recommending reforms to the credit card market as the financial services industry braces for the next bank inquiry.

mortgagebusiness
GDP rebounds strongly in Q4

After a shock 0.5 per cent quarter-on-quarter drop in Q3, Australia’s GDP bounced back in Q4 by 1.1 per cent, according to ANZ.

mortgagebusiness
‘Worrying hotspots’ in bank books, warns analyst

Lenders’ mortgage books – particularly those of the big four – are showing “worrying” signs of more risk with a notable uptick in interest only loans, according to a market analyst

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