Anastasia Santorenos| Yahoo Finance| 18 September 2019 https://au.finance.yahoo.com/news/new-credit-laws-to-see-homeowners-pocket-extra-40000-015323644.html Australian homeowners could now save around $40,000 over the course of their mortgages under new credit reporting laws introduced by the federal government. The laws, which were first introduced in 2014, have finally been adopted by the big banks, with Commonwealth Bank implementing the changes on Tuesday […]
[...]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 in the housing market. Property research firm CoreLogic has released its latest Hedonic Home Value Index, reporting a 0.8 per […]
[...]Melanie Mingas| Australian Broker| 11 September 2019 https://www.brokernews.com.au/news/breaking-news/asic-to-appeal-steak-and-shiraz-ruling-266153.aspx ASIC has filed an appeal with the Full Federal Court of Australia after its responsible lending case against Westpac was dismissed during court proceedings last month. The loss dealt a significant blow for ASIC: it was the first legal test of the 2009 NCCP Act and the […]
[...]Su-Lin Tan| Australian Financial Review| 16 September 2019 https://www.afr.com/property/residential/why-the-housing-mini-boom-won-t-last-20190916-p52rqi The current housing mini-boom triggered by two rate cuts will run out of steam, according to UBS. Weak credit growth, little pick-up in new housing development and very low levels of homes listed for sale in Sydney and Melbourne suggest there may not be enough fuel […]
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Michael Bleby| Australian Financial Review| 17 September 2019 https://www.afr.com/property/residential/sydney-median-house-price-rises-to-875-000-20190917-p52s44 Sydney’s median house price rose to $875,000 in the June quarter, marking the first increase in a year as buyers returned to the market after the federal election and greater optimism about prospects for the property market. The higher median price – up from $870,000 in […]
[...]Pete 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 assessment rate for mortgages was lifted, and replaced by a minimum 250 basis points buffer as I looked at previously here (while […]
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