Banks over the last three years have let leading standards slip, in an effort to compete with non conforming lenders [sub-prime lenders]. This has lead to higher defaults and foreclosures and that is no good for anyone involved. But are the extra credit reporting requirements really necessary?
Continue reading about Banks to be Big Brother in credit report profiling
Will the building and construction industry lose 80,000 jobs over the next three years?
Whilst the home construction building sector is booming, its not the same for construction workers on major projects.
According to a building industry union, 80,000 jobs will be lost in the next three years as business investment collapses. That is a dire prediction, [...]
The Reserve Bank of Australia has left its interest rates options open at its board meeting this afternoon, leaving the official cash rates on hols, as it searches for clues on how the rest of the year will pan out.
Continue reading about Home loan rates on hold as RBA reads the China tea leaves
It is beginning to look like Australia will dodge the recession bullet. Australians’ confidence in the future have risen its best level in nearly two years, as home buyers and homeowners grew more optimistic about an early economic recovery. A predicted slide in house values hasn’t happened, and in many parts of the economy its business as usual.
Continue reading about Home buyers and homeowners confidence highest in 2 years
The banks have been tightening their credit guidelines on home buyers for over the last year and this is stangling building companies cashflow and construction activity slowed for the 11th month straight.
Continue reading about Tightening of mortgage credit generally and construction loans hits builders
