61RBA lauds ‘effective’ tightening of lending standards
- ... impact a borrower’s ability to meet their mortgage repayments, pointing to previous restrictions on interest-only lending, which prevented borrowers from rolling over the interest-only period. Mr Kearns ...
- 19 June 2019 in News
62A third of Aussies looking to buy a home this year
- ... negative equity (53 per cent) and being switched from interest-only to principal and interest home loan contracts (74 per cent). Further, 88 per cent of respondents consider affordability to be a significant ...
- 13 June 2019 in News
63‘Triple tailwinds’ could double mortgage growth
- ... prices The switching of interest-only loans to principal and interest The expansion of comprehensive credit reporting to mortgages in September 2019 The Morgan Stanley analysis coincided with the ...
- 12 June 2019 in News
64More lenders commit to full RBA rate cut
- ... 20 basis points, respectively (however Westpac has dropped investor interest-only SVRs by 0.35 per cent), Suncorp Bank has also announced it will cut all variable home loan interest rates by 0.20 percentage ...
- 06 June 2019 in News
65No excuses: RBA governor calls on banks to pass on full cut
- ... variable home loan rates by 18bps, while Westpac opted to cut variable owner-occupied (P&I and IO) and investor P&I rates by 20bps, and slashed investor interest-only rates by 35bps. ANZ group executive, ...
- 05 June 2019 in News
66Lenders begin to pass on RBA rate cut
- ... OO interest-only (IO) SVR to 5.68 per cent, its investor P&I SVR to 5.71 per cent and its investor IO SVR to 6.16 per cent. Mike Baird, NAB’s chief customer officer - consumer banking, said that it is ...
- 05 June 2019 in News
67ANZ’s mortgage book continues thinning
- ... appetite away from borrowers with a higher-risk profile, with the bank reducing its exposure to investment and interest-only loans. However, Mr Elliott conceded that the bank’s reaction to increased ...
- 03 June 2019 in News
68NAB among several lenders to slash rates
- ... and Virgin Money have also cut their two and three-year investment P&I and interest-only rates by up to 30bps, with investment home loan rates now starting from 3.69 per cent. BOQ Specialist is also ...
- 31 May 2019 in News
69RBA concedes it will ‘consider’ rate cut in June
- ... investors with interest-only loans on the other – has meant that the merits of a single floor rate across all products have been substantially reduced.” [Related: Below target inflation not enough to ...
- 22 May 2019 in News
70APRA looks to amend mortgage lending guidance
- ... in recent years – with a substantial gap emerging between interest rates for owner-occupiers with principal-and-interest loans on the one hand and investors with interest-only loans on the other – has ...
- 21 May 2019 in News
71Housing market ‘green shoots’ beginning to emerge
- ... disposable income across the economy, serviceability of mortgages is not a problem for most,” ANZ Research stated. “There are some signs of increased stress on home owners moving from interest-only loans ...
- 16 May 2019 in News
72Decline in building approvals exceeds HIA expectations
- ... against a minimum floor of a 7.25 per cent mortgage rate, and for interest-only loans to be assessed on a principal and interest basis for the term of the loan,” he noted. HIA’s optimism remains low, ...
- 16 May 2019 in News
73Negative equity pressures hang in the balance
- ... of Australia’s mortgage portfolio would also limit stability risks. “The cumulative effect of regulatory changes over recent years has been to limit riskier lending (including high LVRs and interest-only ...
- 13 May 2019 in News
74Suncorp posts 3Q mortgage contraction
- ... cent of loans in Suncorp’s mortgage book were tied to principal and interest repayments, while interest-only loans made up 21 per cent of its portfolio. Additionally, 79 per cent of home loans in Suncorp ...
- 09 May 2019 in News
75Margin squeeze to persist as majors tackle credit ‘headwinds’
- ... remain well secured but, if housing values continue to fall, some past-due housing loans could become impaired. Further risks are also likely to emerge as interest-only loan periods expire and borrowers ...
- 08 May 2019 in News
76Rate cuts not the solution: Westpac CEO
- ... continued to reduce its exposure to investment and interest-only borrowers, despite the lifting of the Australian Prudential Regulation Authority’s (APRA) caps. The proportion of investment loans in ...
- 07 May 2019 in News
77NAB profits up despite $525m remediation hit
- ... proportion of owner-occupied loans increasing from 58.6 per cent in 1H18 to 59.7 per cent, while the share of investment loans dropping from 41.4 per cent to 40.3 per cent. The proportion of interest-only ...
- 03 May 2019 in News
78Contraction in mortgage market a ‘conscious decision’: ANZ CEO
- ... that loan were all pretty much the same – whether they’re an investor, owner-occupier, paying principal and interest, or interest-only, the return was the same. “That is no longer the case. “Today, ...
- 02 May 2019 in News
79Major bank drops home loan rates
- ... principal and interest fixed rates have been cut by up to 10bps, with rates now starting from 3.79 per cent Owner-occupied interest-only fixed rates have been cut by up to 10bps, with rates now starting ...
- 23 April 2019 in News
80Bank cuts mortgage rates by up to 40bps
- ... with rates now starting from 3.79 per cent investment principal and interest rates have been cut by up to 40 basis points, with rates now starting from 3.94 per cent interest-only fixed rates have ...
- 18 April 2019 in News