RBA governor defends stance on negative interest rates

(mortgagebusiness.com.au) Reserve Bank governor Philip Lowe has hit back at claims that the central bank’s stance on negative interest rates is “putting bank profits ahead of jobs”. In his appearance before the House of Representatives standing committee on economics on Friday (14 August), governor of the Reserve Bank of Australia (RBA) Philip Lowe was questioned […]

ANZ joins peers, revises IO policy

The major bank has amended its assessment policy for interest-only home loans, in line with new regulatory guidance from APRA. ANZ has announced that it will now enable home loan customers to switch to interest-only repayments or extend their terms for up to 12 months without a full serviceability assessment.The revision, which is effective immediately, […]

Govt announces $688m HomeBuilder package

Australians looking to build or renovate in the second half of the year will be able to get $25,000 from the federal government as part of a scheme aiming to keep the construction industry moving. The $688 million HomeBuilder package is available to owner-occupiers who sign a contract to start building or substantially renovating their […]