Mortgage lending and property prices are in freefall, with potentially damaging consequences for the Australian economy. Should we blame APRA?
ABS figures show housing finance tumbled further in January, while the number of credit card accounts continues to fall, according to the RBA.
National Australia Bank (NAB) last week cut variable mortgage interest rates on selected loans for new owner occupiers making principal and interest repayments. Other banks that also shifted their rates last week included AMP, Teachers Mutual Bank and Adelaide Bank.
New research from Housing Industry Association (HIA) has found that the goal of home ownership still matters for a majority of Australians, with 81 per cent of Aussies believing they should be able to own their own home.
Housing affordability has improved in four states and territories, while rental affordability has also improved in four, according to a new report.
The Reserve Bank of Australia has today left the cash rate on hold at 1.5 per cent. Meanwhile, 22 lenders have slashed rates on more than 150 fixed home loans this year, as competition among the banks heats up.
Loans.com.au has launched a new home loan that has one of the lowest interest rates in Australia.
With sweeping changes to mortgage broker remuneration on the table in the wake of the recent banking royal commission, new figures indicate that Australian mortgage holders may be more satisfied with their experience when applying for a mortgage directly through a bank branch.
Several lenders increased variable interest rates on selected home loans in the last week of February, though there were also cuts to interest rates for some fixed rate loans.
The latest vacancy report has been released, with Real Estate Institute Queensland (REIQ) finding the Gold Coast to have the highest vacancy rate increase in the December quarter, growing from 1.7 per cent to 4.8 per cent.
Bendigo Bank has unveiled an “instant home loan”, which is powered by its fintech partner, Tic:Toc.
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