https://www.mortgagebusiness.com.au/breaking-news/16488-housing-supply-needs-to-be-more-flexible-rba-governor Annie Kane| Mortgage Business| 14 February 2022 The supply of “well-located” land needs to be addressed to improve housing affordability, the governor of the Reserve Bank of Australia, Philip Lowe, has said. Speaking to the House of Representatives standing committee on economics for its hearing on monetary policy on Friday (11 February), the governor […]
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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. […]
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