Today’s trending stories in Australian home ownership and Home Loans.
- NAB fraud review: pay rates drove dodgy loans
Westpac chief executive Brian Hartzer this week said generous commissions for mortgage brokers could be done away with. According to the documents made public this week, NAB’s review of the fraud ring found that bankers were double-dipping on bonuses by duplicating and postdating deals.
- Profits versus popularity – the dilemma for banks
It is an unpopular move but doesn’t generally receive anywhere near the public scorn that raising mortgage rates does. Or they might just hold out … Our economic base case is a modest fall in home lending seeing house prices flatten to down 3 per cent year on year in 2018 and 2019. A credit tightening…
- Underquoting: Tougher penalties needed for illegal real estate practice, experts say
Tougher penalties, including the naming and shaming of offenders and larger fines, are needed if dodgy real estate practices like underquoting are to be eradicated from the Sydney market, industry experts say.
Already in the first two months of 2018, 18 agents across New South Wales, including Sydneys northern beaches and eastern suburbs, have been found guilty of underquoting .
If instances of underquoting continue at this rate throughout the year, the numb…
- More households than ever are under mortgage stress in Townsville
Economist Colin Dwyer said while Townsville’s workforce and unemployment figures were excellent in 2017, mortgage stress conditions still needed improvement. The DSEconomics chief economist said there were more jobs in dozens of projects including Haughton Bridge, stadium and solar farms.
- Weekend Reading: 7-8 April 2018
… In Sydney, the urban containment effect adds $489,000 to the house price making the annual mortgage payments $29,000 higher. Figure 4 shows the components of the average house price in Sydney. In Melbourne, the urban containment effect adds $324,000 to the house price, making the…