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Economy

Non-major bank names new director
11 October 2016
mortgagebusiness

The ME board has announced the appointment of Ms Elana Rubin, effective 4 October 2016.

Median selling prices ‘have not doubled’ over decade
11 October 2016
mortgagebusiness

Median selling prices for dwellings across the country “have not doubled over the past decade” despite overall price increases and a general belief that they have, a new report has revealed

November rate cut likely to be the last
10 October 2016
mortgagebusiness

A senior economist has discussed the potential ramifications of too low an official cash rate, and predicted that if the RBA cuts the rate in November, “it would probably be it”.

Virgin Money home loans boost challenger bank profits
10 October 2016
mortgagebusiness

The CEO of Bank of Queensland has said that its Virgin Money Reward Me home loan product has driven a surge in mortgage applications and helped increase profit for FY16 amid “industry ...

State surplus could provide relief to FHBs
10 October 2016
mortgagebusiness

The announcement that the NSW government has brought the state “back in the black” should herald a stamp duty reduction plan to help first home buyers, a property association has suggested

Pepper prices largest RMBS deal in a decade
7 October 2016
mortgagebusiness

The specialist lender announced today that it has priced an $800 million non-conforming residential mortgage-backed securities deal, the largest in the Australian market since 2006.

November rate cut ‘likely’
7 October 2016
mortgagebusiness

The Reserve Bank of Australia kept in line with market expectations this week and chose to hold the cash rate steady, but a cut could be on the cards for November, according to AMP Capital

Sydney home building reaches 16-year high
7 October 2016
mortgagebusiness

Sydney home building has reached a 16-year high, but obstacles could still prevent “the Sydney economy from reaching its full potential over the long term”, a senior economist has warned

Mutual bank and credit union to merge
7 October 2016
mortgagebusiness

Teachers Mutual Bank has announced that it will merge with a NSW-based credit union, as part of the bank’s ongoing “strategic growth strategy”.

Consumer confidence remains ‘volatile’
7 October 2016
mortgagebusiness

Confidence fell by more than two per cent last week, but still remains “well above its long run average”, a new report has revealed.