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Economy

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.

Big four made $67.9m by delaying August cash cuts
6 October 2016
mortgagebusiness

ANZ, Commonwealth Bank of Australia, NAB and Westpac made $67.9 million in profit on home loans in August 2016 by delaying their cuts in interest rates, a professor of economics has ...

Half of Aussie home owners experiencing ‘grief’ over mortgages
6 October 2016
mortgagebusiness

Around 47 per cent of Australians with home loans are worried about meeting their repayments, research by a debt solution provider has revealed.

Capital city listings rise
6 October 2016
mortgagebusiness

The number of residential property listings rose across capital cities during the month of September, with Sydney and Melbourne leading the country’s strongest property markets, according to ...

Three-quarters of parents still pay for adult children
6 October 2016
mortgagebusiness

Around 74 per cent of parents continue to provide financial support to their adult, working-aged children, despite financial handouts from parents “occurring to a lesser extent”, a new ...

Bank bill swap rate rigging to become criminal offence
5 October 2016
mortgagebusiness

The federal government has announced that it will make the manipulation of any financial benchmark a criminal offence, in a bid to “better protect Australians from the possible abuse and ...

City dwelling values increase while rental yields decrease
5 October 2016
mortgagebusiness

Capital city dwelling values rose by 2.9 per cent over the last three months, while rental yields have held at a “historic low”, a new report has revealed.

Banks to implement customer advocate role
5 October 2016
mortgagebusiness

The Australian Bankers’ Association (ABA) has released a set of guiding principles for the creation of a new customer advocacy role in a bid to make complaint resolution easier for customers

RBA makes cash rate call - Oct 2016
4 October 2016
mortgagebusiness

The Reserve Bank of Australia has shocked the market in delivering the decision of its monthly board meeting.