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Almost 40pc of income needed to cover mortgage payments

by Staff Reporter • 29 May 2008
The proportion of household income required to meet average home loan repayments rose to 38 per cent in the March...READ MORE

Two additional rate rises to come: ANZ

by Staff Reporter • 29 May 2008

The official cash rate will reach 7.75 per cent by the end of the year, according to ANZ.

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St George extends electronic lodgement deadline by one month

by Staff Reporter • 29 May 2008
St George has given brokers an extra month’s grace on its electronic lodgement requirements, pushing the... READ MORE

Brokers divided on cross selling

by Staff Reporter • 28 May 2008

Cross selling may meet resistance from the broking industry despite commission reductions.

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Worsening picture for loan arrears revealed

by Staff Reporter • 28 May 2008
Prime mortgage arrears rose by four basis points to 1.28 per cent in February, according to Standard &... READ MORE

Wizard sale no impact on third-party business: GE Money

by Staff Reporter • 28 May 2008
The sale of Wizard Home Loans will not affect GE Money’s third party business, according to a statement issued... READ MORE

Fixed-rate loans keep private business on track

by Staff Reporter • 28 May 2008

Australian businesses are feeling the effects of the credit crunch but remain confident in their future.

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St George and Westpac step closer to merger

by Staff Reporter • 28 May 2008
St George and Westpac have announced that they have signed a Merger Implementation Agreement (MIA) to form what would... READ MORE

Fixed-rates lose their appeal with consumers

by Staff Reporter • 27 May 2008
Demand for fixed-rate mortgages contracted significantly in April, Mortgage Choice housing loan approval data released... READ MORE

Brokers unjustly carry burden of credit crunch: FBAA

by Staff Reporter • 26 May 2008
The FBAA has criticised the banks’ decision to cut commissions, stating that brokers are being unjustly targeted... READ MORE

BankWest cuts 42 broker groups

by Staff Reporter • 26 May 2008
BankWest will reduce its distribution to just 17 brokerages and will break ties with all other groups within 28... READ MORE

Bouris to buy back Wizard

by Staff Reporter • 26 May 2008
Wizard Home Loans’ founder Mark Bouris will seek to regain control of the lender just four years after selling... READ MORE

First quarter slide for housing markets

by Staff Reporter • 26 May 2008
House prices softened considerably during the first quarter of the year, data released by the Real Estate Institute of... READ MORE

GMAC-RFC confirms $302 million non-conforming RMBS

by Staff Reporter • 24 May 2008
GMAC-RFC confirmed today that it successfully placed a $302.8 million non-conforming RMBS issue, following a refusal... READ MORE

US home prices fall significantly in Q1

by Staff Reporter • 24 May 2008
US home prices suffered the largest quarterly decline in record in the first quarter of 2008, according to the Office... READ MORE

Budget fails to ease consumers? inflationary expectations

by Staff Reporter • 23 May 2008
The Federal Government’s budget has offered little hope to consumers to combat inflation, according to the... READ MORE

Borrowers apprehensive about refinancing

by Staff Reporter • 22 May 2008
Many Australian homebuyers want to refinance their home loans but a high level of apathy could be holding them back,... READ MORE

Suncorp securitises $2.6 billion of home loans

by Staff Reporter • 22 May 2008

Suncorp securitised $2.6 billion in residential mortgages last Thursday, 15 May.

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Banks benefit as businesses seek local financing

by Staff Reporter • 22 May 2008
With international funding markets still dry, Australian businesses are increasingly looking to local banks to finance... READ MORE

Affordability worsens for first home buyers

by Staff Reporter • 22 May 2008
The HIA-CBA First Home Buyer Affordability Index fell during the first quarter this year by 3.5 per cent – 10... READ MORE

GMAC prices $300 million RMBS

by Staff Reporter • 22 May 2008

GMAC-RFC reportedly priced a RMBS deal yesterday worth $300 million.

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Mortgage delinquencies to increase: Fitch

by Staff Reporter • 21 May 2008
Mortgage delinquencies rose in the first quarter of 2008 and are expected to increase further as the impact of... READ MORE

RHG to move back RMBS call dates

by Staff Reporter • 21 May 2008
RHG Ltd (previously RAMS Home Loans Group) has proposed a change to upcoming call dates on some of its outstanding... READ MORE

Seiza pulls back on funding

by Staff Reporter • 21 May 2008
Tough capital market conditions have forced Seiza Capital to reduce funding for some products, including low-doc... READ MORE

CBA announces new commissions structure

by Staff Reporter • 21 May 2008
The Commonwealth Bank of Australia (CBA) this afternoon revealed changes to broker remunerations after weeks of... READ MORE

Borrowers escaped rate rise by skin of their teeth in May

by Staff Reporter • 21 May 2008
Borrowers were close to being hit with another interest rate hike this month, according to the minutes of the RBA May... READ MORE

Connective director says time to step back

by Staff Reporter • 20 May 2008
Sof Tsialtas has stepped down as director of aggregation group Connective, but said he would continue to have an... READ MORE

UCU and mecu to merge

by Staff Reporter • 20 May 2008
Victorian-based credit union mecu today announced plans to merge with Queensland’s Uni Credit Union (UCU) in a... READ MORE

Macquarie delivers record net profit

by Staff Reporter • 20 May 2008
Macquarie Group delivered a record net profit today of $1.8 billion after tax for the year ending 31 March 2008... READ MORE

US housing starts experience April recovery

by Staff Reporter • 20 May 2008
Housing starts in the US rose more than expected during April to reach a seasonally-adjusted 1,032,000, the US... READ MORE
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