CBA raises fixed home loan rates

Investors have been denying owner-occupiers houses they once would have bought.

CBA is raising interest rates on a range of fixed-rate home loans, the latest big bank to increase costs for home buyers seeking to lock in their borrowing costs.

'Trump conned them': Wall Street wins again

President-elect Donald Trump: standard media reporting no longer applies.

If Mnuchin becomes Treasury secretary, he'll be the third Goldman Sachs alum in three decades to get the job as the President-elect surrounds himself with bankers and billionaires.

ANZ warns on overbuilding in apartment market

Banks are already reporting a growing number of buyers are struggling to settle on time.

The high-rise construction boom that is transforming the skylines of Sydney, Melbourne and Brisbane will probably leave parts of these cities with too many apartments, ANZ Bank chief executive Shayne Elliott predicts.

Apartment 'settlement bulge' a key risk for property

The apartment settlement bulge needs to be closely watched, BoQ chair Roger Davis says.

Bank of Queensland chairman Roger Davis has highlighted the risks from a looming surge in apartment settlements Brisbane and Melbourne, amid signs more buyers are facing difficulties completing off-the-plan purchases.

ASIC bans former Westpac financial planner

Former Westpac adviser Anthony Bishop is the 22nd financial planner to be banned under a crackdown by the corporate ...

A former Westpac financial planner has been banned from providing financial advice for eight years after an investigation found he gave clients inappropriate advice, costing the bank $1.1 million.

ASIC backs more data sharing in banking

More sharing of bank customers' data would benefit competition, ASIC says.

Corporate cop Greg Medcraft says the government's banking inquiry is right to focus on ways to make banks share more data on their customers, a move that would boost competition in the concentrated sector.

Big banks 'will follow' Westpac's rate hike

Westpac lifts interest rates on fixed rate mortgages

Westpac Bank is the first of the majors to increase interest rates on its fixed rate home loans and investment loans, but market watchers says it likely the other majors will follow. 

Banks confirm rise of 'bank of mum and dad'

Eight per cent of first home buyers taking out new loans now had the backing of a family member.

More parents are putting their assets on the line to guarantee their childrens' home loans, two major banks say, as rising prices prompt first home buyers to take on bigger debts.

Savers hit as CBA cuts term deposit rates

CBA blamed changes in funding markets and the low interest rate world for its cuts to term deposit rates.

Commonwealth Bank has sliced a range of term deposit interest rates, the second round of cuts since it three months ago trumpeted rate rises on deposits as a win for savers.

Westpac hoses down apartment glut fears

Chief executive of Westpac's consumer bank, George Frazis, says the lender is seeing few signs of stress in the ...

Westpac is dismissing concerns of a looming apartment glut in Sydney and Melbourne, arguing neither city will face an oversupply of housing next year when thousands of new units come onto the market.

The interest rate party is over, and the only way is up

It seems that banks are not waiting for any lead from central bank.

Australian banks are drawing a line in the sand. Interest rates on mortgages are going up - by stealth. And there will be flow on effect to the residential property market and temper the rate of growth in Sydney and Melbourne.

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