• ABA Urges Extension of SME Loan Exemption Until 2026

    The Australian Banking Association (ABA) has formally requested an extension of the current exemption for small business loans, seeking to extend it by another two years until October 3, 2026. Additionally, the ABA has urged the Treasury to consider making the exemption permanent to provide long-term certainty and reduce regulatory barriers for small and medium-sized…

  • Majority of CBA Home Loans Now Come Through Direct Channels

    The Commonwealth Bank of Australia (CBA) has reported a continued decline in broker-originated mortgage flows, with its proprietary channel now accounting for about 66% of its new mortgage business. In its full-year results for the financial year ending June 2024, the bank had grown its mortgage book by a significant $12 billion, a 2% increase…

  • Singapore’s 90% Home Ownership: What Can Australia Learn?

    Singapore’s housing model, often lauded for its high homeownership rates, is not without its challenges. Economist Sock-Yong Phang argues that the unique approach of state ownership of land and long-term leases, which has been instrumental in achieving high homeownership rates, is now facing significant drawbacks as housing affordability becomes a pressing issue. Phang, a leading…

  • NAB Reports Increase in Mortgage Delinquencies Among Customers

    National Australia Bank (NAB) reported a 6% decline in cash profits to $1.75 billion for the June quarter, reflecting its customers’ growing challenges amid rising living costs and high interest rates. This decline in cash profits has impacted NAB’s ability to invest in new ventures and maintain its current operations. NAB’s CEO, Andrew Irvine, who…

  • Mortgage Holders Outspend Renters on Discretionary Items: CBA Report

    According to recent data from the Commonwealth Bank of Australia (CBA), mortgage holders spend more on discretionary items than renters despite having more significant financial obligations. On 15 August, CBA released its latest Commbank Household Spending Insights (HSI) Index, highlighting a significant spending gap between renters, mortgage holders, and homeowners. The HSI Index, which tracks…

  • Senate Launches Inquiry into Impact of Financial Regulation on Home Ownership

    The Senate has initiated a new inquiry to examine the impact of financial regulation on home ownership in Australia. This inquiry, conducted by the Senate Economics References Committee, will explore how current lending regulations can be adjusted to make homeownership more accessible, particularly for first-time buyers. The inquiry will involve consultations with Australian borrowers, the…