A recap of the news stories on mortgage this week:
Investors return to residential property
The Age
The Age takes a look at AFG’s Mortgage Index which reports that April saw 33.8 per cent of new mortgages were sold to investors.
Home loan credit on the rise
ABC – Lateline
Reporter Helen Brown takes a look at the current two speed home loan market interviewing Michael McNamara of Australian Property Monitors, Andrew Hanlan of Westpac and David Bell of the Australian Bankers Association.
Stockland dives into mortgage broking
News.com.au
News.com.au reports on the Australian property developer, Stockland and it’s move into mortgage broking.
Australian mortgages open to fraud
InvestorDaily.com
Reporter Charlie Corbett reports on the Australian mortgage industry being subject fraud similar to what has been seen in the United States.
Shared equity mortgages
Melbourne Herald Sun
The latest product is the shared equity finance mortgage (EFM) which allows borrowers to buy property which they traditionally could not afford. The article also considers some of the downsides to equity finance with commentary from University of Western Sydney economist Steve Keen.
The Big Stretch
The Age
Denise Ryan of the Age takes a look at the cost of schooling and it’s effects on the family and the family budget.
Banks unconcerned about loan defaults
Fairfax Brisbane Times via AAP
Westpac’s David Morgan, St George’s Steve McKerihan and ANZ’s John McFarlane share some views on the possible spike in home loan defaults.
Statement on Monetary Policy
Reserve Bank Australia
The RBA has released it’s quarterly statement on monetary policy.
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