Australian real estate news
Australian Bureau of Statistics (ABS) Housing Finance figures for June show, in trend terms, the number of commitments for owner occupied homes fell 0.8 per cent, compared to the previous month. In seasonally adjusted terms, the number of commitments decreased 3.9 per cent.
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Housing Finance Commitments Trends Have Decreased
Households with mortgages have been advised to take advantage of the pause in interest rate rises and pay down their debts.
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Households recommended to reduce their debts
The RBA’s decision to keep rates on hold has helped buoy consumer confidence. The Westpac–Melbourne Institute Consumer Sentiment Index rose by 11.1 per cent in July – the strongest monthly jump since June 2009.
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Consumers confident about the future
THE number of home loans for owner occupied housing rose for the first time in eight months in May, official figures show.
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More home loans taken out by owner-occupiers
The Federal Housing Finance Agency has come down against a program that uses property tax liens to finance loans for retrofitting houses with solar power
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Feds Put Kibosh On Solar Financing Program
THE Reserve Bank has decided to leave official interest rates unchanged at 4.5 percent, the bank announced this afternoon. Statement by Glenn Stevens, Governor: Monetary Policy Decision The global economy has continued to expand over recent months, consistent with a trend pace of growth. The expansion remains uneven, with the major advanced countries recording only modest growth overall, but growth in Asia and Latin America, to date, very strong
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RBA leaves interest rates on hold
Westpac chief executive, Gail Kelly, says recent times have represented “a turning point” for the Australian banking system. In a letter to shareholders, released this morning, Kelly said the improved economic environment had led to “a stabilisation in asset quality” and a “material reduction” in impairment charges. “However we remain cautious,” she said.
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Westpac CEO sees a ‘turning point’ for banks
Westpac Chief Economist Bill Evans and his team produce this bite-sized roundup of the week’s economic news and events, with clear analysis and insight plus the outlook for the week ahead.
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Latest Westpac Economic News by Bill Evans
ANZ National will be out of pocket by NZ$45 million after the bank and ING NZ reached a record settlement with the Commerce Commission over two “income funds” managed by its wealth arm ING. ING froze the ING Diversified Yield Fund and the ING Regular Income Fund in late 2008. The Commission’s investigation related to the marketing, promotion and sale of the funds
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ANZ Bank reimburses for ING losses
What should average homeowners being doing in this market? Is it a good time to refinance your mortgage?
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Is it a good time to refinance your mortgage?
