Lender

Discover some of the top news stories impacting the mortgages space in this weekly wrap-up.

The transaction will see hummgroup continue its commercial business pivot, shedding its BNPL, instalment and credit card operations to the non-bank. 

Mortgage Business has launched its annual survey for brokers to assess the performance of Australia’s mortgage lenders, which will provide both brokers and lenders with insights.

The governor of the Reserve Bank has defended the central bank’s cash rate forecasting, despite increasing expectations from market that a rate rise will come sooner than flagged.

The growth of Australia’s property market is expected to flatten within months before prices start to fall later this year, according to updated forecasts from Westpac.

While a “competitive backdrop” leached away at its profit margin, the group secured $2.1 billion in new home loans over the six months to December.

The major bank today (15 February) announced it will remove its Breakfree package in March and “simplify its home loan offerings”.

Macquarie Group has reported a record quarter on the back of improved market conditions.

The bank saw its net margins slide in the six months to December, despite gaining $1.2 billion in new home loans and a steady rise in broker originations.

A handful of banks have announced relief measures following bushfires in the state’s south, including home loan deferrals and moratoriums.