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Economy

Borrowers not yet over GFC, data reveals

Australians remain “very circumspect” about taking on extra debt, despite new data showing a big jump in credit card applications.

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Home loan rates down, credit card fees up

Average mortgage interest rates decreased across all categories during the second quarter of 2014/2015, while rates and fees for credit cards increased.

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Business confidence registers ‘very significant improvement’

Chief financial officers have become more optimistic about the prospects of their companies, according to the latest Deloitte CFO survey.

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Reserve Bank could pour fuel on fiery Sydney market

Sydney’s “exuberant” housing market might soon be further boosted after governor Glenn Stevens raised the possibility of another interest rate cut.

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Land constraints driving residential lot prices: report

Vacant residential land prices continue to rise with limited supply, and with Sydney, Perth and Melbourne leading the way, according to the latest HIA-CoreLogic RP Data Residential Land ...

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Prestige Melbourne home values going up, up and up

Property prices in Melbourne’s inner city have recorded massive rises since the start of the year, with Toorak up almost 16 per cent.

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Banks and borrowers to benefit from new credit regime

A new emerging credit regime has been tipped to produce faster turnarounds and better scorecards – but first lenders need to commit.

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Welfare group attacks negative gearing 'myths'

A lobby group has attacked several “myths” surrounding negative gearing, including the widespread belief that scrapping the scheme in the 1980s led to higher rents.

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Falling consumer confidence points to May rate cut

Westpac has reported a decrease in consumer confidence, which the bank describes as “a disappointing result”.

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Credit reforms aim to increase flow of data

New credit data sharing proposals have been tipped to bring Australia “one step closer to comprehensive credit reporting”.

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