While a December inflation rate of 3.2% might initially seem like a positive development, it could spell trouble for Australian home loan borrowers. Here’s why: In summary, while a lower inflation rate might seem beneficial, the broader economic context and the interplay between RBA and FED rates could create challenges for Australian home loan borrowers. […]
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The Australian Bureau of Statistics (ABS) recently released data indicating that the monthly Consumer Price Index (CPI) rose by 2.3% in the year to November 2024. This increase in the CPI is a significant economic indicator that can have various implications for the mortgage industry. In this article, we will explore what this rise means […]
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The Reserve Bank of Australia (RBA) plays a pivotal role in shaping the country’s economic landscape, particularly through its influence on mortgage rates and the housing market. Understanding how the RBA’s decisions impact these areas can help homeowners, potential buyers, and investors make informed decisions. In this article, we explore the mechanisms through which the […]
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MFAA | 19 June 2019 https://www.mfaa.com.au/news/mortgage-brokers-record-highest-ever-market-share-amidst-tough-market-conditions The mortgage broker channel has recorded its highest ever residential home loan market share result with brokers settling 59.7 per cent of all residential home loans during the January – March 2019 quarter, according to the latest data released by research group comparator, a CoreLogic business, and commissioned by the […]
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Mortgage Business | 2 July 2019 https://www.mortgagebusiness.com.au/breaking-news/13565-open-banking-regime-commences The financial services sector has officially ushered in the first phase of the new open banking regime. The 2019-20 financial year has kicked off with the launch of the open banking regime, a framework designed to facilitate the open exchange of data in the private sector, beginning with […]
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Mortgage brokers now arrange more loans than lenders do directly. 59.7 per cent of home loans are now arranged by mortgage brokers rather than by someone applying directly through their bank, according to Corelogic research. And the trend looks set to continue, with some industry-insiders predicting, ultimately, brokers will arrange 75 per cent of loans. […]
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Henry Belot| The New Daily| 29 March 2019 https://thenewdaily.com.au/news/national/2019/03/29/labor-negative-gearing-concessions/ A Labor government would scrap negative gearing concessions for new investors on January 1 next year, earlier than many analysts and commentators predicted. Shadow Treasurer Chris Bowen said the long-awaited start date would still provide enough time for scrutiny of the legislation and more industry consultation. […]
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Stephanie Chalmers| ABC Online| 27 March 2019 https://www.abc.net.au/news/2019-03-27/anz-and-nab-bosses-face-parliamentary-grilling/10943760?section=business The bosses of ANZ and NAB have told a parliamentary hearing their banks are willing to lend, amid a greater focus on responsible lending in the wake of the banking royal commission. Key points: The bosses of ANZ and NAB are facing their biannual grilling by a […]
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Philip Coorey, John Kehoe & Natasha Gillezeau| Australian Financial Review| 12 March 2019 https://www.afr.com/news/politics/coalition-backs-down-on-ending-trail-commissions-for-mortgage-brokers-20190312-h1caoj The federal government has backflipped on a key recommendation of the banking royal commission and will no longer ban trail commissions for mortgage brokers from 2020, as it promised to do last month. Instead, it will hold a review into whether […]
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Exodus of Australian Landlords Driving Up Rents The Australian rental market is facing a crisis, as a growing number of landlords are selling their properties or taking them off the market altogether. This is due to a number of factors, including fear of government rent control, rising property taxes, and the increasing popularity of holiday […]
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After months of decline, housing loan commitments in Australia have finally started to increase. This is due to a number of factors, including optimism in the housing market, interest rates on hold last month, fear of missing out (FOMO), with the rhetoric of increased immigration and lack of house starts. Optimism in the Housing Market […]
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Addressing the critical need for affordable housing, the New South Wales (NSW) government has introduced a range of incentives to encourage property developers to allocate at least 15% of new projects for affordable housing. In addition to fostering social inclusivity, these incentives offer significant benefits to developers, including increased floor space ratios and height bonuses. […]
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As technology continues to advance at an unprecedented pace, artificial intelligence (AI) has emerged as a game-changer in various industries. The mortgage lending sector is no exception, with AI-powered tools promising to simplify the process and assist borrowers in finding their ideal home loans. However, the question remains: will mortgage brokers be replaced by AI […]
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Exodus of Australian Landlords Driving Up Rents The Australian rental market is facing a crisis, as a growing number of landlords are selling their properties or taking them off the market altogether. This is due to a number of factors, including fear of government rent control, rising property taxes, and the increasing popularity of holiday […]
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Richard Gluyas| The Australian| 23 June 2022 https://www.theaustralian.com.au/business/financial-services/council-of-financial-regulators-closely-watching-housing-market-for-financial-stress/news-story/f81e7d9ea6c66788424489b8cb80f9bf The Council of Financial Regulators is keeping a close eye on emerging risks in the housing market, amid rising pressure on household budgets from banks passing on Reserve Bank rate hikes to their customers. The CFR, which had its regular quarterly meeting of the four main financial […]
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https://theconversation.com/vital-signs-whats-wrong-with-australian-mortgages-theyre-fixed-for-shareholders-not-home-owners-176234 Richard Holden| The Conversation| 4 February 2022 If you’re paying off a mortgage – or aspiring to – imagine if you didn’t have to worry so much about rising interest rates. That’s already the reality for US home buyers. Unlike in Australia, most mortgages in the US have a fixed-interest rate, locked in for […]
[...] 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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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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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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Sarah Simpkins| Mortgage Business| 12 November 2021 APRA runs through lending control toolkit – Mortgage Business The prudential regulator has outlined the next intervening steps it could take, as housing prices and debt levels continue to climb. APRA released its Macroprudential Policy Framework information paper on Thursday (11 November), setting outs its framework, options and […]
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