Australia’s banking regulator has stated that it will not ease the interest rate buffer requirements for borrowers despite more homeowners being subject to mortgage stress. This comes as a significant number of borrowers will see their cheap fixed-rate home loans, which were acquired before the central bank started the interest rate hiking cycle in May…

Australian cyber authorities have warned people and local businesses to take precautions against cybercriminals as they have become more sophisticated in using digital currencies and other methods in their exploit schemes. The Australian Transaction Reports and Analysis Centre (AUSTRAC), which is responsible for detecting, deterring, and disrupting criminal abuse of the financial system, has released…

New Australian housing mortgage commitments rose 4.4 percent in December to a record high value of $32.8 billion (US$23.3 billion) as house prices in the country continue to climb. The Australian Bureau of Statistics (ABS) revealed that it was driven by a 5.3 percent increase in the value of new owner-occupier loans. The average loan…

The Commonwealth Bank of Australia (CBA) expects house prices to fall by around 10 percent in 2023 after the official interest rate lifts. Gareth Aird, the head of Australian economics at CBA said a further tightening of macro-prudential policy looks unlikely, and the housing market will see moderate growth over the first half of 2022….

The Reserve Bank of Australia (RBA) has said it would continue to “carefully” monitor trends in housing borrowing after announcing it will hold the cash rate at the current record low 0.1 percent. Following the bank’s monthly meeting, RBA Governor Philip Lowe noted Australia’s economic recovery was much stronger than initially expected. However, despite the…