The profitability of Australia’s major banks is under threat thanks to low interest rates, intense competition and open banking, according to a report from ratings agency Moody’s.
Australia’s most-talked-about property market, Sydney, looks to be heating up at the moment, with a 5% gain in median home values over the three months to 31 October 2019.
While the recent property downturn improved asking prices and serviceability, affordability in Sydney and Melbourne remains an issue due to high population growth.
86 400 has today unveiled Australia’s first-ever digital home loan through brokers, allowing Aussies to get approved for a mortgage up to six times faster than the big four.
The big four banks have revealed the number of customers who’ve elected to reduce their mortgage repayments in the months following the recent cash rate cuts.