Many people are considering their options in view of the Banking Royal Commission

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There have been some alarming revelations about the behaviour of Australia’s Banks coming out of the Banking Royal Commission. It has shattered the myth that the big banks always put their customers first. Time and again evidence has been put forward that shows that the lending practices of some of … Read More

Buyers – and sellers – beware as royal commission exposes banking’s risky business

Hearings reveal more tales of reckless lending by banks – but also show that borrowers will take huge risks to make their dreams come true  Westpac lawyers leave the Commonwealth law courts in Melbourne on Thursday, May 24, 2018. Photograph: Joe Castro/AAP What happened in the banking royal commission this … Read More

The difference between median value and median price

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Understanding the difference between the median sales price and the median value can provide you with useful insights into exactly what is going on in your local property market. The traditional metric is the median sales price. This is the median – or middle – price of all the properties … Read More

Were mortgages more affordable 28 years ago?

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The Property Investment Professionals of Australia (PIPA) has just released analysis arguing that mortgages are more affordable now than they were in 1990. Peter Koulizos, chairman of PIPA, said those who say property has grown less affordable with time haven’t studied the numbers properly. “Many commentators use just two indicators … Read More

Why it’s worth cutting mortgage costs via cheaper loan

Amy Mylius says monthly costs on investment loans for her town house and apartment rose by $1300 a month before refinancing.  Amy Mylius has saved more than $1000 a month in loan costs on her two investment properties by switching to a new lender after her repayments crept up by … Read More

Key retail banking product happenings from the past month

Both variable and fixed Home Loan rates are trending down as providers continue to chase owner occupier borrowers. Investor rates have also been easing, even before last week’s announcement by APRA that the investor loan growth limit would be lifted for those lenders that meet its prudential requirements. American Express … Read More

Statement by Philip Lowe, Governor: Monetary Policy Decision

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Date1 May 2018 At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. The global economy has strengthened over the past year. A number of advanced economies are growing at an above-trend rate and unemployment rates are low. The Chinese economy continues to grow solidly, … Read More

How Commonwealth Bank got itself into such a mess

The banking royal commission has been full of horror stories. To some extent this is not surprising. Banks undertake millions of transactions per year so it is hardly surprising that there are some shockers in the mix. The Catholic Church and the Returned Services League have provided similar front page news stories … Read More

The many moving parts influencing house prices

Before I dive into where housing is heading, the banking regulator’s analysis of CBA’s vulnerabilities was spot on. In 2010 I posited that while the four oligarchs’ much-lauded diversification into non-core businesses might smooth their return distributions during the good times, it lifted the probability of adverse fat-tail events of the kind NAB experienced in … Read More

8 Financial New Year’s Resolutions For 2018

The beginning of a new year is the most popular time to set goals and make plans, and everyone’s resolution list should include a few financial resolutions. Resolutions, like goals, are best when they’re specific. When you set a resolution or a goal, think of it as picking destinations on … Read More

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