Economy

The architect behind one of Australia’s fastest growing mortgage businesses says national brokerages like Aussie and Mortgage Choice need to consider digital channels.

Rates of home ownership for Indigenous Australians are on the rise, but are still significantly lower than rates for non-Indigenous Australians, 2016 census data reveals.

Outright home ownership is seen as the ultimate financial goal by nearly three-quarters of Australians, followed by the ability to retire comfortably.

The Reserve Bank of Australia could hike rates eight times in two years, pushing the average standard variable rate up to 7 per cent, a former RBA member has predicted.

The number of Australians who own their home outright has fallen significantly over the last 25 years, but this drop is a symptom of a 50-year trend, CoreLogic has said.

The Australian Prudential Regulatory Association has completed its transition to a new organisational structure with the appointment of two new executive general managers.

EXCLUSIVE REA Group chief executive Tracey Fellows has outlined how the $8.7-billion company will build a national mortgage business with a big four bank and two major brokerages.

The Bank for International Settlements has been forced to “shout a bit louder” about excessive debt levels in its latest report, according to a banking analyst.

An industry association has questioned whether the ACCC is using its new powers to hold banks accountable over the latest round of out-of-cycle rate hikes.

South Australia’s state-based version of the federal bank levy is unlikely to be the last tax increase for Australia’s major banks, says UBS.