Economy

APRA boss clarifies position on house prices, budget measures
1 June 2017
mortgagebusiness

The prudential regulator has stressed that house prices are not its concern as it seeks to contain “heightened risks” in mortgage lending.

Report calls for land tax to replace stamp duty
1 June 2017
mortgagebusiness

A new report has recommended ‘broad-based land taxes’ replace stamp duties, arguing that policies which limit mobility impede the efficient functioning of labour markets.

ACCC could steer borrowers away from the big four
31 May 2017
mortgagebusiness

Treasurer Scott Morrison has revealed how the ACCC will prevent the majors from passing on the bank levy to borrowers and explained how the government body will show Australians “how to get ...

Treasury sounds alarm on ‘risky’ housing market
30 May 2017
mortgagebusiness

The Treasury secretary has stressed that developments in the housing market continue to pose a risk to the economy, his second warning over housing in less than a week.

Govt accused of copying UK banking ‘playbook’
30 May 2017
mortgagebusiness

The former CEO of an ASX-listed mortgage provider believes the 2017 federal budget has “brazenly copied swathes” of the UK’s “old playbook” by insisting on a bank tax.

Sydney and Melbourne ‘have peaked’: AMP Capital
30 May 2017
mortgagebusiness

More economists are calling the top of the market ahead of the release of CoreLogic’s latest house price data this week.

Moody’s downgrades China’s credit rating
29 May 2017
mortgagebusiness

China’s credit rating has been lowered by Moody’s Investors Service amid concerns about rising debt and a slowdown in economic growth.

Housing construction posts ‘significant fall’
29 May 2017
mortgagebusiness

Construction activity was weaker than expected in the first quarter of the year, hindered by a decline in residential building.

APRA controls on non-banks could trigger ‘credit crunch’
26 May 2017
mortgagebusiness

Pepper’s former chief executive has warned that the government’s plans to extend APRA’s prudential oversight to the non-banks could have serious unintended consequences, accelerating a ...

Treasury ‘watching the housing market closely’
26 May 2017
mortgagebusiness

The federal government has conceded that it is keeping a close eye on the residential property market amid growing concerns over household debt levels and a drop-off in demand from Chinese ...