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Latest News

Latest News

Comprehensive Credit Reporting

Comprehensive credit reporting (CCR) as part of a government-initiated industry change to provide a more complete picture of consumers' credit history. Customers will now see new information on their credit report. A credit report previously contained any credit enquiries, defaults and serious credit infringements. The additional information shared for CCR includes account open and closed dates, types of credit, credit limits and up to 24 months of repayment history information.

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Hat trick of RBA rate cuts on the table

There's a "very real chance" that the Reserve Bank will lower the cash rate three months in a row, according to ANZ Research. Last week, the Reserve Bank of Australia (RBA) released minutes from its monetary policy board meeting in June, in which it decided to cut the official cash rate for the first time in almost three years, decreasing it to a new record-low of 1.25 per cent. In its minutes, the board noted that further cuts to the cash rate are "more likely than not" amid below target GDP growth and weaker than expected labour market conditions.

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Broker loans to increase to 75 per cent by 2024

Following the news that the mortgage broker channel has claimed a record percentage of the home loan market share, the MFAA has forecasted that business will continue to pick up momentum – at an even faster rate. The association expects broker market share will reach a figure as high as 75 per cent over the next five years.

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A third of Aussies looking to buy a home

More than a third of Australians plan on purchasing a home this year, new ME research has found. According to ME's latest Quarterly Property Sentiment Report, which is based on a survey of 1,000 Australians, 34 per cent of respondents have plans to buy a home in the next 12 months, while 12 per cent intend to sell and 58 per cent do not expect to do either.

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