Top Stories in Australian Home Ownership May 9, 2016

Today’s trending stories in Australian home ownership and Home Loans.

  • ANZ, Westpac hit by hundreds of Chinese home loan frauds
    The Financial Review understands that mortgage brokers associated with the spike in fraudulent Chinese income documents have been suspended…
  • Housing stress uptick no threat, says NAB
    According to NAB’s mortgage stress test, the bank would suffer $1.8bn of losses over four years after factoring in lenders’ insurance if the jobless rate…
  • Home loan borrowers warned not to get ripped off as interest rates plummet
    BORROWERS should have a 3 in front of their home loan interest rate … If these cuts transpire, we’re likely to see rock-bottom home loan interest…
  • Central banks challenged on easy money
    But higher home loan rates sparked an outcry from the mortgage belt, and … Not long after, problems started to surface in US mortgage markets,…
  • Man charged with theft after moving into home he didn’t actually buy
    When the woman found the home for sale online, she told her boyfriend, Gregory Harris, that she liked it, according to court documents.
    Harris, who had told the woman he was a millionaire, later told her that he would buy it.
    Harris did take down the for sale signs from the property in Indiana, authorities think. But he never actually completed the sale of the home he just made an offer.
    Harris, 48, now faces burglary and theft charges, according to …
  • Sydney’s trophy home market fast grinding to a halt
    Sydneys trophy home market isfast grinding to a halt as stock levels shrink to all-time lows and buyers are forced to negotiate on off-market deals.
    The number of high-end properties in the slightly more affordable prestige market throughout the eastern suburbs and north shore have also dried up leaving agents dumbfounded at the dramatic turnaround in activity levels compared with the boom-time turnover of previous years.
    There are currently only four properties on …