GENERAL NEWS
OVER February Australian household deposits hit a new record high at $1.46 trillion, after collectively saving $6.17 billion over the month...
According to APRA’s latest banking statistics, household deposits have grown $191.40 billion or 15% since April 2022, around the time the RBA began its rate hiking cycle...
“Collectively Australians are continuing to build up their financial safety nets as people put a priority on protecting themselves from future shocks,” said Sally Tindall, research director at...
“While this increase is lower than previous months, it’s astounding to think money in the bank from households is still going up, rather than down, after years of...
At the same time, mortgage offset accounts and term deposits are also continuing to rise, though this is beginning to slow after a spike around July and August 2023...
“With credit card debt and home loan arrears both on the rise, cracks are starting to widen between those still able to add to their war chests and those who are...
“Surprisingly, new research from the RBA suggests higher income earners are more likely to be dipping into their offset accounts and redraw facilities than borrowers on...
According to recent research from Roy Morgan, mortgage stress continued to rise to a record high of 1.63 million February...
Over February, the value of home loans was also up to a total of $2.17 trillion, up 0.26% from the previous month...
While each of the big four banks saw an increase in their loan books this month, ANZ led the pack. ANZ was up 0.43% or $1.25 billion over the month and was up...
While CB’s residential mortgages saw a greater increase in dollar terms up $1.32 billion or 0.24%...
“ANZ’s strategic decision to stay in the home loan cashback game is likely to be a key contributing factor to the bank’s strong growth in its mortgage book,”...
“While the majority of banks retreated from the cashback scene back in 2023, the RateCity.com.au database shows there are still 12 lenders offering cash incentives to...