Home Loans & Mortgages

Australian Mortgage Lenders and Mortgage Broker Group Aussie Home Loans Group’s aggressive expansion has helped bump up its annual profit despite stagnant east coast housing markets. The mortgage lender and broker formed by John Symond yesterday posted a 44 per cent rise in net annual profit for 2005-06 to $19.7 million. Aussie said it processed [...]

Westpac chief executive, Gail Kelly is not happy with Government plans to ensure that all Australians are free to move their mortgages, and has hit out at moves by the federal government to ban exit fees on home loans from July this year.
She claims that the forced abolition of the mortgage exit fees would in fact make it harder for smaller lenders to compete in the home loan market, without explaining why, and why she should care about Westpac’s competitors in the first place!

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.

The Reserve Bank of Australia’s suspicion that wage pressure is accelerating is being confirmed by economic data, placing more pressure on interest rates. The Australian bank bill futures market yesterday put the chance of a rate rise at the next Reserve Bank board meeting at 50 per cent, while a rate hike in the next [...]

The Reserve Bank of Australia may have left the official cash rate on hold at 6.25 per cent last week, but Australian homeowners are still suffering interest-rate pain and some could be forced to sell their homes, a NEWS.com.au survey reveals. While rates have been kept steady this month, many analysts are still tipping a rate rise [...]