A disconnect between the growth objectives and asset allocation of SMSF trustees

Self-managed superannuation fund (SMSF) trustees have high growth expectations for the next 12 months yet as many as 55 per cent have moved to a more defensive asset allocation amid continuing market volatility, according to AMP Capital. Statistics from AMP Capital’s latest Black Sky Report show that while SMSF trustees expect a 10.9 per cent … Continue reading “A disconnect between the growth objectives and asset allocation of SMSF trustees”

You’ve got to fight! For your right! … to fair banking

From The UK Conversation. British governments have been trying to improve financial inclusion for the best part of 20 years. The goal is to make it easier for people on lower incomes to get banking services, but this simple-sounding target brings with it a host of problems. A House of Lords committee will shortly publish … Continue reading “You’ve got to fight! For your right! … to fair banking”

Property prices continue to soar in an already hot market

From The NewDaily. Latest property price figures have given home owners reason to celebrate and first home buyers even more reason for despair. Latest data from CoreLogic Home shows prices in Australia’s main cities have leapt 3.7 per cent since the start of the year, with Sydney and Melbourne predictably higher than the national average. Residential … Continue reading “Property prices continue to soar in an already hot market”

AMP Bank Lifts Mortgage Rates

AMP Bank has announced changes to its mortgage lending rates for both owner occupiers and investors. Effective 3 April 2017, variable interest rates for interest-only loans for existing customers will increase by 15 basis points for owner-occupied loans and 28 basis points for investment loans. In addition, effective 31 March 2017 for new customers and … Continue reading “AMP Bank Lifts Mortgage Rates”

Mortgaged Households, Vital Statistics

We have pulled out the latest data on residential mortgaged households, incorporating the latest mortgage increases and market valuations. So today we run over the top-level vital statistics. To explain, our market model replicates the industry, across all lenders banks and non-banks and looks beyond the performance of just the securitised mortgage pools (as some … Continue reading “Mortgaged Households, Vital Statistics”

Auction Clearances Higher

CoreLogic says the amount of auction activity across the capital cities increased this week, up from 2,916 last week to 3,147 this week; the largest number of auctions since the last week of February 2017 when 3,301 auctions were held. This time last year was the Easter long weekend, so auction volumes were substantially lower, … Continue reading “Auction Clearances Higher”

Mortgage fraud increasing year on year

From Australian Broker. The number of cases of mortgage fraud has been on the rise, with brokers warned to look out for falsified documents supplied by clients seeking unsuitable loans.   “Unfortunately, fraud continues to increase year on year,” said Paul Palmer, Connective’s compliance support manager, at the aggregator’s professional development day in Sydney on … Continue reading “Mortgage fraud increasing year on year”

St George Lifts Mortgage Rates

St George has followed the other majors with lifts in variable mortgage rates, and those with investment loans are hit the hardest. They are also offering a “free” switch from interest only to principal and interest repayments until June. Effective on 8 May 2017, St George will be increasing the following variable rates for: Owner … Continue reading “St George Lifts Mortgage Rates”

Australia is adding an extra million people every three years

From The New Daily. Thursday was a demographer’s dream. That’s when the Australian Bureau of Statistics released Catalogue No. 3101.0, which contains a whole bunch of thrilling data. One of the highlights is that, as of September last year, Australia had 24.22 million people, an increase of about 348,000 in just 12 months. That’s broadly equivalent to adding the combined … Continue reading “Australia is adding an extra million people every three years”

Auction Run Continues

The latest preliminary data from Domain shows continuing momentum in today’s auction results. Sydney achieved a clearance of 80.2% compared with 76.7% last week, and 61.4% last year. The volumes are also up. In Melbourne, clearance was 79.5%, higher than the 75.3% last week and nationally, clearances were at 78% compared with 73.8% last week. … Continue reading “Auction Run Continues”