Digital Finance Analytics (DFA) Blog
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Following its Tuesday victory against ASIC, with the court dismissing the regulator’s allegations of irresponsible lending, Westpac has announced a spectrum of changes to its home lending policies. From Australian Broker. The updated guidelines are set to go into effect on 20 August, at not only the major, but its associated brands: St. George, Bank … Continue reading “Westpac Changes Mortgage Underwriting Policies”
I did not receive the Domain results last Saturday so could not make my normal weekly post. I have had many people ask about the data. So, here is first the data they did publish last week. No comparative data to last year. Volumes are lower, even if Domain clearance rates are higher. And we … Continue reading “Auction Results From 10th August 2019”
We look at the ructions on the financial markets today. What does it mean?
We look at the ructions on the financial markets today. What does it mean?
Economist John Adams and I discuss the yield curve inversion and the implications for our economy.
Australia’s trend unemployment rate increased in July 2019 to 5.3 per cent, from 5.2 per cent in June, according to the latest information released by the Australian Bureau of Statistics (ABS). ABS Chief Economist Bruce Hockman said: “Australia’s trend unemployment rate increased to 5.3 per cent in July 2019, the same level as this time … Continue reading “Trend Unemployment Rate Up To 5.3%”
Australians are still confused about what goes into their credit report, despite it being an important record of their credit health, according to research by consumer education website, CreditSmart. The CreditSmart survey found that nearly three quarters of Australians assume their credit score is included in their credit report. One in five mistakenly believe that … Continue reading “Confusion around credit reports rife among Aussie consumers”
We look at the latest ABS data in wages and the most recent ME Bank survey on Financial Comfort. https://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6345.0Jun%202019?OpenDocument https://www.mebank.com.au/news/household-financial-comfort-report/ Some charts from Westpac IQ: https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2019/August/Q2Wages-FI.pdf
Consistent with the DFA surveys on household financial confidence the latest survey via ME Bank says: Australian households are feeling overall worse about their net wealth, jobs, income and living expenses with further significant residential property price falls over the past six months and a weakening labour market, ME’s latest Household Financial Comfort Report has … Continue reading “ME Says Household Financial Comfort Falls”
The trend Wage Price Index (WPI) rose 0.5 per cent in the June quarter 2019 and 2.3 per cent through the year, according to figures released today by the Australian Bureau of Statistics (ABS). These are lower than projected in the budget, and highlights the stresses in the economy. Without one-off factors the numbers would … Continue reading “Wages Growth Up A Bit (Thanks To Victorian Public Sector Rises)”