https://www.brokernews.com.au/news/breaking-news/economists-predict-interest-rates-will-surge-soon-despite-reserve-banks-assurances-279534.aspx Mina Martin| Australian Broker| 7 February 2022 Economists remain adamant when it comes to predicting a cash rate increase this year, despite Reserve Bank of Australia’s latest economic forecast suggesting it might be some way off. RBA’s quarterly statement on monetary policy predicted faster economic growth in the near term as well as a […]
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Daniel Ziffer| ABC| 7 February 2022 https://www.abc.net.au/news/2022-02-07/threat-of-postcode-discrimination-in-credit-scores/100723574?fbclid=IwAR36VZplMBBVdFVzo7YDscYRWs92ab_vJNQ-7i9-SPHlscyAeKvbn7hkI9M Where you live could determine if you can get a mortgage, with Australia’s biggest credit scoring company now applying postcode data when assessing applications. Key points: People’s credit scores are used by banks in determining if they should be approved for loans and credit cards Market leader Equifax […]
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A new approach to lending could have a dramatic impact on whether Australians can get a mortgage. A letter sent from the Australian Prudential Regulation Authority (APRA) to the banks shows how it is developing an arsenal of weapons to stop the market getting away from itself. Already this month, lending changes enforced by APRA […]
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Tawar Razaghi| Domain| 10 November 2021 https://www.domain.com.au/news/clearance-rates-drop-as-more-homes-hit-the-market-potentially-tipping-in-buyers-favour-1102611/?utm_campaign=strap-masthead&utm_source=smh&utm_medium=link&utm_content=pos5&ref=pos1 The property market’s high tide could slowly be turning, agents say, as more homes hit the market, stricter stress tests on borrowing kick in, the RBA signals rate hikes earlier than expected and the end of lockdowns mean potential buyers are booking overseas holidays rather than shopping for […]
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Annie Kane| Mortgage Business| 11 November 2021 https://www.mortgagebusiness.com.au/breaking-news/16240-apra-consults-on-new-credit-risk-management-approach?utm_source=MortgageBusiness&utm_campaign=Mortgage%20Business11_11_2021&utm_medium=email&utm_content=1&utm_emailID=8a8e1573aa7aed348b3ce216911220f449b12b769f3b1261337d04577713208e Debt-to-income ratio limits and serviceability buffer changes are to be embedded into APRA’s standard for credit risk management. The Australian Prudential Regulation Authority (APRA) has written to banks asking for feedback on proposed its proposal to ‘formalise and embed’ credit-based macroprudential policy measures within its prudential standard for credit risk. […]
[...] Lucy Dean| Yahoo Finance| 30 October 2021 $47,000 gone: Major new mortgage rules from Monday (yahoo.com) Australians hoping to buy property will be forced to prove they can repay their mortgage if rates rise 3 per cent, under new rules coming into place on Monday 1 November. The Australian Prudential Regulation Authority (APRA) announced the higher […]
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Ingrid Fuary-Wagner | Australian Financia l Review| 1 July 2019 https://www.afr.com/real-estate/residential/property-recovery-starts-in-sydney-melbourne-20190627-p52202 Property price growth in Sydney and Melbourne is in positive territory for the first time since the market peaked in 2017, as lower mortgage rates and improved buyer sentiment in combination with a dearth of new listings spurs a market recovery. Values grew slightly […]
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James Eyers & Misa Han | The Australian Financial Review | 10 May 2019 https://www.afr.com/business/banking-and-finance/inside-the-westpac-case-that-could-alter-banking-20190510-p51lz4 It’s a case that will define one of the most fundamental jobs of a bank – working out whether to lend to a customer. On one side is the Australian Securities and Investments Commission. The regulator has taken Westpac Banking […]
[...] James Frost & James Eyers | The Australian Financial Review | 1 May 2019 https://www.afr.com/business/banking-and-finance/anz-says-7-25pc-buffer-has-to-go-20190501-p51j0g ANZ chief executive Shayne Elliott urged the prudential regulator to scale back the buffer requiring new borrowers have the capacity to pay a 7.25 per cent interest rate, warning it was forcing the bank to turn away one in five […]
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Annie Kane | The Adviser | 7 May 2019 https://www.theadviser.com.au/breaking-news/39077-three-quarters-of-smes-believe-bank-appetite-has-decreased Seventy-four per cent of small business owners believe that bank appetite for SME lending has decreased this financial year, while 30 per cent believe that access to capital is the biggest impediment to growth this year. According to a recent survey conducted by specialist business […]
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David Scutt | Business Insider Australia | 10 May 2019 https://www.businessinsider.com.au/australia-house-prices-best-worst-performing-capital-city-2019-5 Australia’s median home price slumped 7.2% in the year to April. An even larger 8.4% decline was recorded in the capital cities in average weighted terms. The price falls in some regional capital city markets were substantially larger than the national average. In others, […]
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Madison Utley | Australian Broker | 9 May 2019 https://www.brokernews.com.au/news/breaking-news/majors-commit-to-hem-alternatives-262695.aspx As Westpac and ASIC continue to clash over responsible lending measures and the big four face remediation bills of more than $5bn, focus has turned once again to the need to improve responsible lending frameworks. The HEM system – which was repeatedly scrutinised during royal commission hearings, […]
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