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Economy

Big four bank changes fixed rate home loans

A major bank has decreased its one-year fixed rate for owner-occupied and investment home loans and increased its fixed-rates for longer terms, effective immediately.

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Non-major names new head of retail banking

A non-major lender has appointed a former Westpac mortgage executive to the newly created role of head of retail banking.

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OnDeck makes key appointment

The US-listed fintech lender has announced that the former CFO of SocietyOne will soon join their ranks to assist the company with its next phase of growth.

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Mortgages ‘not expensive relative to rent’, finds bank

Rental payments are taking up a greater proportion of household income, while mortgage payments remain in line with the historical average, which could boost housing demand, a global bank ...

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Stamp duty ‘key barrier’ to affordability

The need for stamp duty reform in NSW has never been more urgent, according to the head of a major real estate franchise.

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REA Group makes $70m investment in India

Having recently announced its launch into the mortgage market, the REA Group has now acquired a 15 per cent stake in an India-based online real estate group.

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Major bank tipped to offload $3bn of assets

Morningstar analysts have suggested that a major lender could divest its remaining shareholdings in financial services groups across Asia after the bank announced its second asset sale in a ...

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Bank apologises for customer account glitch

An ASX-listed banking and wealth management group has “sincerely apologised” to customers who were affected by a technical issue that allowed them to see the account information of other ...

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HSBC says housing construction boom is ‘near its peak’

Five years after housing construction started to fill the gap of declining mining investment, HSBC believes national housing supply is now close to being worked off.

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Consumer confidence reaches 15-week high

The headline index for consumer confidence jumped sharply last week, with views on ‘economic conditions over the next 12 months’ leading the gain.

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