Economy

Australian lenders have raised their loan books to $1.56 trillion, according to the latest figures from the Australian Prudential Regulation Authority.

The Reserve Bank of Australia has made its official interest rate call for July following its monthly board meeting.

A regional bank has today announced adjustments to its mortgage pricing to “address competitor movements and respond to regulatory caps on growth”.

Mutual lender CUA has announced that former PwC partner Nigel Ampherlaw has been elected as its new chairman and will take up the position from 14 November.

UBS chief economist for Australia and New Zealand, Scott Haslem, has resigned from the investment bank and an internal replacement has been named.

Stamp duty concessions are expected to drive first home buyers back to the market, but the real benefits of the tax break could be short-lived.

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.