ASIC asks CBA to change advertised rates
Commonwealth Bank has agreed to change its advertised comparison rate for the Wealth Package home loan after ASIC raised concerns that the comparison rate did not include the loan's $350 annual fee.
Housing confidence slumps in NSW, Vic
Property confidence is down in Australia’s biggest states as investors look to resource-rich areas in 2012.
Government policy keeping a lid on rates
Many questioned the Labor government's decision in October to offer lenders the safety of Australia's credit rating but a new report suggests interest rates could be much higher if it had decided against allowing banks to sell covered bonds.
RBA to cut rates in February: St. George
St. George expects uncertainty in Europe to prompt the Reserve Bank to deliver borrowers a 0.25% rate cut when it meets next in early February bringing the cash rate firmly into expansionary territory at 4%.
More cuts needed to boost home sales
A surge in new home sales after the Reserve Bank's November rate cut shows that more cuts are needed to support the fragile housing market, the HIA says.
Smaller lenders attract refi business
Lenders outside the four majors accounted for almost a quarter of all loans written by AFG brokers in December driven largely by a surge in popularity amongst borrowers refinancing their existing mortgages.