Westpac’s new digital tools to help Aussies save and monitor upcoming bills
Westpac is rolling out two personalised money management tools that will help their users identify opportunities to save and be alerted with upcoming bills.<...
Mutual bank expands digital home loan to new home purchases
Newcastle Permanent is opening its Digital Home Loans platform to borrowers seeking financing for their new home purchases.
Australia might avoid a technical recession but a 'consumer recession' is real and current
Low consumer sentiment and card spending show Australia is still in a 'consumer recession', according to Westpac economists.
Rate cuts persist in term deposits, but some providers defy the trend, 15 September
The downtrend in term deposit rates continues this week but some providers like Qudos and Bank of Sydney defied the trend and made some increases.
Low-deposit investors get whacked by widening home loan margins
In terms of rate movement volume, it was a relatively subdued week, however some prominent banking names popped up - namely AMP, Westpac, and NAB.
Customer-owned bank partners with LMI provider
Great Southern Bank inked a five-year deal with Helia, formerly Genworth, the exclusive lenders mortgage insurance provider for Australia's third-largest cus...
Yet another micro-investing app launches - introducing Nine25
Money app Nine25 has launched a micro-investing platform where users can directly invest in up to four portfolios on launch, with plans to release 10 more.
Household spending rises in August, but more rate rises remain unlikely
Extra international students, high fuel prices and the women's world cup contributed to an increase in household spending for August, but the data is still i...
Tight labour market continues with unemployment steady at 3.7%
Australia’s unemployment rate was 3.7% in August, with 65,000 extra jobs and only 3,000 finding themselves without a job according to ABS data.
Australia pushes with ban on credit cards, digital wallets in online gambling
The federal government will enforce a ban on the use of credit cards, cards linked to e-wallets, crypto, and digital currencies in online gambling through a ...
ABS confirms recovery of house prices
It appears the housing market recovery started even earlier, with the latest Australian Bureau of Statistics (ABS) showing that the total value of housing ma...
Proposed changes to Banking Code set to provide extra protection to customers
The Australian Banking Association (ABA) has submitted a proposal that would institute a new Banking Code that would provide rights and entitlements to bank ...
All quiet on the mortgage front as few lenders move rates, 8 September
This week the two largest customer-owned banks in Australia moved home loan rates south, while a couple of smaller mutuals moved theirs north.
These providers are cutting their one-year term deposit rates, 8 September
It certainly is an end of an era as several providers started scaling back on one-year term deposit rates.
Use of savings contributes to resurgence of home prices
The value of Australia’s housing market just hit $10 trillion and several factors, including the high level of savings helped boost the market despite ...
A strong uptick in mortgages exempt from 3% serviceability buffer
The latest APRA banking data shows there has been a strong uptick in mortgages exempt from serviceability criteria.
It's official: We're in a recession, a per-capita one
GDP growth per capita recorded its second consecutive quarter of negative growth, down 0.3%, signifying that our output per person is down.
Refinancing dissipates threats of fixed mortgage cliff — PEXA
The recent surge in refinancing appears to have mitigated the looming risks associated with the mortgage cliff, according to PEXA Refinancing Index.
RBA cash rate still on pause at 4.10%
The Reserve Bank of Australia’s cash rate hold this month marks outgoing Governor Philip Lowe’s swan song.
ASIC to sue Westpac over tardy hardship responses
The corporate regulator ASIC has commenced civil penalty proceedings against the major bank, alleging it failed to respond to customer hardship notices in th...
Beyond Bank set to acquire small credit union First Choice
Orange-based First Choice Credit Union and Adelaide-based Beyond Bank have signed a memorandum of understanding, signalling an intent to merge.
More offers three month free mobile plan for CommBank customers
Telco More is offering three months of free mobile plan fees to new customers who sign up using a CommBank credit o...
Loans for holiday and travel reach 5 year high
The value of refinancing reached a new record high in July, according to the latest figures from the Australian Bureau of Statistics (ABS).
A look ahead at next Tuesday's RBA cash rate decision for September
Aussies' attention turns to September's monetary policy decision, which will be the last handed down by outgoing RBA Governor Dr Philip Lowe.