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Economy

‘Sharp competition’ pressuring mortgage profitability

A non-major bank has had its net interest margin squeezed by seven basis points over the second half of 2016 amid challenging market conditions.

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Failed projects fuel apartment undersupply fears

An online property agency believes Melbourne is more likely to face an undersupply of new apartments rather than an oversupply due to its rapidly growing population.

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Former major bank home loan manager jailed

A former home finance manager who worked for a big four bank has been sentenced to three years' imprisonment after pleading guilty to dishonest use of his position.

mortgagebusiness
LMI giant rethinks business model as profits plummet

One of Australia’s largest mortgage insurers has revealed that it will redefine its core business model amid challenging market conditions and the potential loss of major clients.

mortgagebusiness
Opportunity for rate cut remains, says ME

Industry super fund-owned bank ME has said that the Reserve Bank of Australia may still cut official cash rates later this year to address “low income growth and low job availability ...

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‘Booming house prices’ contributing to Millennial pessimism

The rising cost of housing in Melbourne and Sydney is “partly to blame” for an increase in young Australians’ pessimism about their financial and emotional wellbeing.

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RBA tipped to emphasise ongoing low inflation

ANZ expects tomorrow’s Statement of Monetary Policy by the Reserve Bank of Australia to highlight that while Australia’s growth outlook remains positive, inflation is likely to remain low

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Global economy ‘on a knife edge’

The global economy is currently poised at a tipping point between inflation on the one hand and deflation on the other, says BondAdviser.

mortgagebusiness
Banking association calls for new compensation scheme

A new, mandatory compensation scheme that covers consumers who have received poor financial advice from defunct financial advisers should be brought into effect, the Australian Bankers’ ...

mortgagebusiness
HIA names new deputy MD

The Housing Industry Association has announced the appointment of Graham Wolfe as deputy managing director.

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