Economy

Two Australian banks, including one of the big four, have announced pricing changes to their fixed and variable rate mortgage products.

Australian payment provider Tyro Payments has announced co-founder and head of sales Andrew Rothwell will leave the business to “pursue a new opportunity” in the fintech space.

The non-bank lender has managed to grow its Australian mortgage originations by 36 per cent to $2.5 billion with the help of more than 2,600 brokers.

Banking technology provider Sandstone Technology has announced the appointment of Julian Blackley as the group’s new CEO.

The volume of residential lot transactions dropped “sharply” during the December quarter, which according to the Housing Industry Association has placed upward pressure on land prices.

While housing activity is likely to “correct sharply” and prices will cool, the market is not heading for a ‘crash’, says an investment bank.

Labor has promised to ban direct borrowing by SMSFs as part of its new housing affordability package.

The latest upward move in the country’s CPI data has brought it to above 2 per cent year-on-year, which a senior economist says will “certainly be welcomed” by the RBA ahead of its monthly ...

Banks’ ratcheting up of interest rates is not due to funding costs as they claim, the RBA has underscored at its latest monetary policy meeting.

The major bank has entered an agreement with Shinhan Bank Vietnam to sell its Vietnamese retail business.