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Economy

Bank boss talks royal commission and rate cuts

The head of one of Australia’s largest banks has defended the group’s position on passing on cash rate movements and addressed calls for a royal commission in a frank message to shareholders

mortgagebusiness
South-east Asian crowdfunder eyes mortgage market

Prior to listing on the ASX this week, crowdfunding platform CoAssets told Mortgage Business about its plans to disrupt the Australian lending space.

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ING Direct to refund $5.38m in super fees

Living Super, ING Direct's super product, will compensate 24,500 of its members $5.38 million in fees after ASIC raised concerns about misleading marketing material.

mortgagebusiness
Melbourne Cup Day rate cut on the cards

The RBA is likely to cut the official cash rate to 1.25 per cent on 1 November if domestic inflation figures are lower than expected, says AMP Capital.

mortgagebusiness
Heritage Bank bolsters executive team with key appointment

Leading mutual lender Heritage Bank has appointed Mr Paul Williams as interim chief financial officer.

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Brokers in $100m bidding war with banks

Intense competition for residential mortgages is driving down rates as customers use online auction platforms to watch banks and brokers bid for their home loan business.

mortgagebusiness
Mezzanine funder joins major banks on ‘de-risked’ Southbank deal

A real estate investment management firm will provide a $33.5 million mezzanine loan to BPM Group for its ambitious $300 million Shadow Play development in Melbourne’s Southbank.

mortgagebusiness
Growing risk of housing downturn, warns asset manager

Australia’s construction boom may be fuelling economic growth for now, but pockets of oversupply are increasing the risk of a housing downturn from as early as next year, according to a ...

mortgagebusiness
RBA surprises experts with cash rate call

The Reserve Bank of Australia has delivered an unexpected decision at its monthly board meeting.

mortgagebusiness
RBA makes cash rate announcement

The Reserve Bank of Australia has delivered the decision of its monthly board meeting.

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