In response to a weekend news article that claimed mortgage brokers fail to adequately disclose to customers the commissions they receive from lenders, Mortgage Choice CEO Michael Russell, one of Australia's largest independently-operated firms, seeks to set the record straight.
Australia home prices skid in October, giving a slight reprieve to the four-month gains, the latest RP Data-Rismark said.
Residential property prices in New Zealand have continued to rise in the third quarter of 2012. The national housing median price rose by 6% to NZ$371,000 (US$304,168) during the year to September 2012, according to the Real Estate Institute of New Zealand (REINZ).
The Reserve Bank of Australia (RBA) is among the bodies to suggest that loan-to-value (LTV) ratios should be capped for property lending in Australia.
Among Australian states, Queensland has the most number of mortgage defaults, a report by Fitch Ratings released on Wednesday said.
Westpac Bank (ASX: WBC), in a filing with the Australian Stock Exchange, said that it reclassified the allocation of loan purpose between owner-occupied and investment housing to better reflect the purpose of the loan.
Home loan delinquencies have strongly fell for the second consecutive quarter with new jobs boosting residents' ability to re-pay their home mortgages, Fitch Ratings said.
The Australia Statistics Bureau showed that during the period 2000 to 2011, renting outpaced home ownership in the country.
Housing finance edged up in September, but a housing group has claimed the result masks weak demand for new homes.
Australian Bureau of Statistics (ABS) housing finance figures for September 2011 show in trend terms that the number of finance commitments increased for the fifth consecutive month; the September increase was 1.2 percent.
If valuers “get it wrong” they will often find themselves being sued by Lenders Mortgage Insurance companies who may be out of pocket after selling a property to recover funds lent on a loan that went bad.
This year's Financial News has listed the world's top 10 most expensive streets. From Hong Kong to Fifth Avenue residents are splashing out a jaw-dropping $78,000 a square meter for these prestigious addresses.
The Housing Industry Association (HIA) sought on Wednesday for interest rate cuts amid weak home sales.
Property developers have welcomed the NSW government's move to scrap stamp duty exemptions for existing homes, arguing it will help improve affordability and boost construction
Mortgage exit fees have drawn a lot of discussion recently, with the Federal Government announcing its plan to legislate against them (one of a range of proposed banking reforms) and the NAB offering to reimburse the exit fees of borrowers who switch to it.
Brokers should focus on what they are really good at when it comes to creating an ideal diversification mix for their business, according to Macquarie Bank.
National Mortgage Brokers has predicted brokers will continue to go from strength to strength as it turned 10 yesterday.
We’ve compiled some expert tips to help you land a hot mortgage deal that delivers on price and on features.
Banks are failing to differentiate on customer service, a survey has indicated.
Australia's small and big banks have cut down the term deposit rates of their bank products, which could discourage consumers from hoarding cash and explore other investment options.
National Australia Bank's direct asset management business, NabInvest, has announced it has acquired a 35 percent equity in AREA Property Partners (AREA), a global real estate fund manager based in New York.
There are only three days left to enter MPA’s prestigious Top Commercial Brokers list, recognising the top-performing advisers in the non-residential space.
The Great Australian Dream could remain just a dream with house prices moving from being affordable to severely unaffordable in the last 10 years.
Do not be spooked by gloomy economic forecasts: right now there are great bargains to be had for the canny property investor. A slowing of the Australian economy and a decrease in demand for housing has created a once in a lifetime opportunity for buying solid investments in areas with strong growth drivers.
With fixed rate loans dropping to levels below or equal to variable rate loans, there's never been a better time to shop around for a new mortgage. When it comes to changing your mortgage, however, there is a right way and a wrong way to go about it.
Talk of rising enquiries from first home buyers has not translated into sales, new data suggests.
Compliance costs and lenders’ volume targets are pushing many broker groups into each other’s arms. MPA investigates the do and don’ts of consolidation.
Home owners are still refinancing their mortgages, even as the property market remains flat, the latest Bankwest/MFAA* Home Finance Index has shown. The Home Finance Index, which surveyed more than 1,139 respondents, revealed that one in four (24.7%) had refinanced their loan in the past two years and 14.2 per cent had refinanced in the previous year, an increase on the previous HFI.
Amid the cash rate calm and the now little cost difference between the average fixed term home loan interest rate and the average variable interest rate, deciding which type of loan to choose is even more difficult.
Australia's small, non-bank lenders have begun applying small increases in its upfront home loan fees and discharge fees in response to the loan exit fee ban.
