Focus on Homeloan Weakens Economic Growth
If banks continue favoring the homeloan sector over lending to business, it would weaken economic growth in the long run, according to NAB.
Housing Costs in Sydney Increasing
Price of houses in Sydney is increasing rapidly than expected. This is due to factors such as migration and influx of high income purchasers.
Credit Cards Debts Surpass Mortgage Repayments
Credit card debts have exceeded mortgage debts for the June quarter, reports the Melbourne Institute's Household Saving and Investment. This new research shows credit card repayment as the new major form of household debt.
Low Interest Rates Lead to Higher Debt
Financial deregulation and structural declines in interest rates are the main factors pushing many Australian households in greater debt service, according to the Reserve Bank. But Australian households are servicing debts well, says expert.
Bank Fee Income Reaches $12.7B
$12.7 billion in fee income was made collectively by Australian banks for the last financial year.
Australian Borrowers Face Greater Risks
If interest rates and joblessness continue to rise, Australians are faced with greater financial shock, says report from Standard & Poor.
NAB Satisfaction Picks Up while Westpac Fall
Customer satisfaction survey by Roy Morgan Research shows National Australia Bank (NAB) gaining more customer satisfaction while Wespac is still down.
