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Latest News

Latest News

Household Financial Comfort

Australian households are feeling overall worse about their net wealth, jobs, income and living expenses with further significant residential property price falls over the past six months and a weakening labour market, ME's latest Household Financial Comfort Report has revealed.

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Servicing Rates

In the three weeks since APRA confirmed it no longer expects lenders to assess home loan applications using a minimum interest rate of at least 7%, lenders have adjusted their floor rates down to varying degrees.

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Granny Flat Could Boost Property Values

More than half a million home owners across Australia's eastern seaboard have enough space on their property to build a granny flat, which could boost home values by 30 per cent and add around 27% to rental income.

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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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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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