Home Loans & Mortgages

According to the National Australia Bank, [the NAB] its latest analysis of the business climate consolidates the view that official interest rates will remain on hold for the rest of the year. For September, the bank’s measure of business conditions has recovered just a little after two months of decline. A pick-up in the retail sector has been [...]

Adelaide Bank has issued an earnings downgrade after intensifying competition in the mortgage lending sector forced it to remove premium pricing on its low-documentation home loans. The regional bank revised its earnings per share (EPS) growth forecast for fiscal 2007 to between 6c and 9c a share, down from 10c. The downgrade surprised the market [...]

Homeowners slay debt but Gen Y gorge on it. Australian mortgagor homeowners who were recently splurging on debt with credit figures showing robust growth have had a change of heart over the past 12 months. They have been getting rid of debt as if it was going out of fashion, with a 24% drop in credit [...]

When the RBA lifted interest rates in November last year I said at the time that it was one rate rise too many. The RBA was at the time focused more on getting Interest rates to “normal levels”, when we are not in normal times Since then many people have agreed with me, including members [...]

That brings up a few questions for the Prime Minister.

So Julia Gillard, how will you sort out this mess? In particular….
How will you overturn the ability of the banks to bleed the “hard-working families” white and take most of their pay packets through high margins?
How do you plan on stopping the coming wave of foreclosures and the homelessness of hard-working Australians?
How will you keep the non and bank mortgage sectors apart and return then to a truly competitive picture to reduce interest rates.
How will you ensure that a new raft of mortgage players can easily enter the mortgage market to drive down interest rates?
If the HSCB bank in the UK can provide mortgages on a margin of 0.49%pa why do our banks need a margin over six times that amount?
When will Labor stop encouraging in anti-competitive behaviour?
How will you break the Big Four Bank Cartel?