Banks Keep Lending to Pump Economy
Banks Keep Lending to Pump Economy Australia’s banks look set to keep rates at record lows and to be flexible with borrowers impacted by COVID 19. Reserve Bank Governor, Dr Philip Lowe, recently spoke to…
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Banks Keep Lending to Pump Economy Australia’s banks look set to keep rates at record lows and to be flexible with borrowers impacted by COVID 19. Reserve Bank Governor, Dr Philip Lowe, recently spoke to…
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Banks to have more flexibility in assessing loan applications Westpac Banking Corp has won a significant victory in the Federal Court on its interpretation of responsible lending duties. The court backed Westpac’s arguments that the…
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Housing finance increased steadily by another 1.3 per cent in September – taking growth since May to 15 per cent. Already, market commentators are predicting that Sydney and Melbourne will hit record highs in April…
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Madison Utley| Australian Broker| 11 November 2019 https://www.brokernews.com.au/news/breaking-news/brokers-continue-to-dazzle-268027.aspx In its first year of operation, just 0.35% of the complaints lodged with the Australian Financial Complaints Authority (AFCA) were related to mortgage brokers. From 1 Nov…
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James Foster| Macro View| 7 November 2019 http://jamesfostermacro.blogspot.com/2019/11/upswing-in-australian-housing-finance.html The upswing in Australian housing finance owner-occupier approvals continued at pace in September rising by a sharp 3.6% on the month. On aggregate, the value of lending commitments…
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Reserve Bank analysis shows that more Australians are getting a better deal on their home loans, despite banks being under fire for not passing on interest rates in full. That is because lenders are forced…
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Tens of thousands of aspiring homeowners are likely to miss out on a new government scheme that would allow them to purchase a home with a 5 per cent deposit. The new First Home Loan…
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Charbel Kadib| Mortgage Business| 3 September 2019 https://www.mortgagebusiness.com.au/breaking-news/13765-credit-curbs-in-sight-as-housing-rebound-accelerates Regulators could consider a fresh round of macro-prudential measures to keep debt levels at bay, according to one analyst, amid the growing possibility of a “V-shaped” recovery…
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Elizabeth Knight| Sydney Morning Herald| 5 September 2019 https://www.smh.com.au/business/banking-and-finance/the-sleeper-issue-that-could-be-a-nightmare-for-banks-20190904-p52nxm.html?fbclid=IwAR1-l_n0GX76pGccwj4CkS-ahEmlWJVW8UmPsIccXUXHk0FrqSPMRa6V2DQ The application of the proposed ‘best interest duty’ for mortgage brokers could be the sleeper issue that raises the bar on bank competition, and eats away…
Read MorePete Wargent BlogSpot| 13 September 2019 https://petewargent.blogspot.com/2019/09/whats-happening-with-lending-standards.html A bit of interesting chit-chat on the Twitter today concerning whether mortgage lending standards are looser, or tighter…or neither of the above. On the one hand, the minimum…
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