The great Australian dream
Is the Great Australian Dream to own your own home over? That’s the question on the lips of Millennials around Australia… and indeed many of their parents who are still providing a roof over the head of these 20-plus somethings. Owning your own home used to be considered a rite of passage. Finally, you’ve left […]
Home loan activity falls to lowest in five years on back of credit squeeze
Fresh evidence of the fragile state of Australia’s home loan market emerged today, with new figures revealing national lending activity has slumped to the lowest levels in five years. The AFG Mortgage Index and Competition Index released today showed lending volumes across Australia in the first three months of 2019 dropped 10 per cent on […]
Australian Finance Group prices $500 million RMBS issue
Australian Finance Group Ltd (ASX:AFG) has successfully priced its $500 million AFG 2019-1 Trust Residential Mortgage Backed Securities (RMBS) issue after receiving strong oversubscription. On the back of the strong demand across the transaction, AFG upsized the deal from $350 million to $500 million. The 2019-1 issue represents AFG’s largest RMBS transaction since its first […]
AFG and iSelect announce joint operation
AFG is expanding its current partnership with iSelect and has entered into a joint operation agreement with iSelect to help them provide an improved customer experience and to further enhance the provision of a digital home loan service to Australian borrowers. The joint operation will commence on 1 April. AFG has not acquired a financial […]
Federal Government recognises vital role mortgage brokers play in delivering competition
Australian Finance Group Ltd (ASX:AFG) said the Federal Government’s announcement on trail commissions today confirmed the vital role mortgage brokers play in generating competition in the home loan market. In response to the Banking Royal Commission recommendations, Treasurer Josh Frydenberg said the Government had decided not to prohibit trail commissions on new loans and opted […]
Cash rate remains unchanged at 1.5% for the 28th consecutive time
The RBA has decided to leave the official cash rate unchanged at 1.5% for the 28th consecutive time and we’d like to share some thoughts on why the Reserve Bank of Australia has made this decision. Following its February meeting, the RBA said the case for the next rate move to be a decrease was […]
National property pulse check – What’s happening in your area?
If Dorothea Mackellar was here today she might replace her famous poetry line about “ragged mountain ranges” with one about the country’s home price ranges. Just like our natural geography, the nation’s property landscape is one of contrasts. Predicting which markets are on the up and which are heading south is never an exact science […]
Cash rate unchanged at 1.5% for the 27th consecutive time
As financial markets digest the findings of the Banking Royal Commission, the Reserve Bank of Australia has made its first rate announcement for 2019. The RBA has decided to leave the official cash rate unchanged at 1.5% for the 27th consecutive time. The RBA continues to balance the worrying parts of the economy – inflation […]
More competition than ever in Australia’s home loan market thanks to mortgage brokers
Australia’s home loan market is enjoying record levels of competition driven by mortgage brokers, with new lending data released today revealing the market share of non-bank lenders is higher than ever. And latest industry figures reveal consumers are increasingly relying on mortgage brokers for help, with three out of every five mortgages in Australia now […]
ACCC warning echoes AFG’s call for competitive market
AFG today said the ACCC’s Residential Mortgage Price Inquiry report has provided damning evidence of the major banks “synchronising” interest rate increases, underlining the importance of ensuring a competitive home loan market. AFG chief executive officer David Bailey applauded the ACCC’s conclusion that consumer choice and lower interest rates on offer from smaller lenders competing […]
