Home Loan News

ACCC slams banks for synchronised swimming' on mortgage rates

In a pulling-no-punches speech at the Australian Financial Review (AFR) Banking and Wealth Summit, Australian Competition and Consumer Commission (ACCC) chairman Rod Sims called out the nation’s big banks for allegedly using home loan interest rate discounts to maintain market stability rather than to provide their customers with healthy competition.

ATO targeting property investors with holiday homes

If you were planning to enjoy the Easter long weekend at your holiday house, which you keep as an investment property for the rest of the year, the taxman may be keeping an eye on you.

Australian property prices on the rise, approaching $7 trillion

Despite slowing conditions in Sydney, Australian residential property prices have risen across the country, bringing the total value to nearly $7 trillion.

Big four banks "move like sheep" on home loan interest rates

The Residential Mortgage Price Inquiry's interim report has set out in words what the industry has known for a long time, according to a mortgage commentator.

ACCC tells mortgage borrowers to switch banks

Australia’s five biggest banks are charging loyal home loan borrowers significantly higher interest rates than new customers, an inquiry has found.

Banks loosen the reins on interest-only lending

The Reserve Bank of Australia has today left the cash rate on hold at 1.5 per cent, but banks have been making significant cuts to interest-only rates across the market.

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Banking organisations respond to Productivity Commission

Australia’s banking organisations have responded to the release of the draft report from the Productivity Commission (PC) on competition in Australia’s financial sector, looking closely at issues affecting both their members and Australian bank customers.

75% of Aussie capitals see dwelling values drop in January

The latest hedonic home value index from CoreLogic found that six out of the eight Australian capital cities experienced a drop in dwelling values over the first month of 2018, and unless something changes, the market may continue to soften over the course of the year.

ASIC accuses CBA of unconscionable conduct

The Australian Securities & Investments Commission (ASIC) has taken the Commonwealth Bank of Australia (CBA) to the Federal Court over allegations of unconscionable conduct and market manipulation.