Economy

Another non-major bank will increase its standard variable interest rates on residential property loans next week.

The regional bank has today announced it will increase its variable interest rates on new and existing investor home loans by 15 basis points from next Tuesday.

The CEO of Australia’s largest member-owned mortgage provider says the group has no interest in distributing home loans through “price driven” online portals.

One leading economist believes the Reserve Bank could still cut the cash rate next year, despite recent speculation that the cash rate would rise in 2017.

A real estate veteran has criticised Mike Baird for calling for changes to negative gearing, urging the NSW premier to direct his attention to stamp duty and land tax instead.

Recent decisions made by the major banks to lift their fixed-rate mortgages suggest that variable rate hikes are on the way, according to mortgage comparison site RateCity.

Following its decision to leave rates on hold yesterday, the Reserve Bank of Australia says conditions in the housing market have strengthened overall.

The ASX been appointed to administer the bank bill swap rate following a tender process by the Australian Financial Markets Association (AFMA).

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

A specialist lender has acquired a non-major bank’s business banking portfolio, including commercial and asset finance books valued at $240 million.