Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
I caught up with Roger Brown, @bankcustomers on Twitter, to discuss his perspective on the mortgage industry, and what has driven it over the past decades.
As an experienced business man, his insights are gold, but the banks will not like them. The future of the banking system and financial stability may be at stake.
How poor policy finally coming home to roost.
Go to the Walk The World Universe at https://walktheworld.com.au/
We look at the latest data from the RBA on household ratios, and ask how meaningful they are, given the assumptions and basis of calculation on which they are based.
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
Another major bank came out last month with a belated warning for mortgage holders, as the impact of higher mortgage rates hit. Meantime Westpac reaffirms their rise expectations, and lift fixed-rate loans to-boot.
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
Those with long memories will recall the passage of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry which reported in 2019. The inquiry heard evidence from many individuals as well as from industry representatives, which highlighted egregious behaviour, misaligned incentives and outright deception. The final report made a number of recommendations, many of which have not been implemented, or have been severely diluted. The industry played the long game, and the Government has walked back and watered down most of the reforms. No wonder Justice Hayne refused to shake Treasurer Frydenberg’s hand in that infamous photo, even then the writing was on the wall.
One recommendation in the The final report for the Royal Commission was that “changes in brokers’ remuneration should be made over a period of two or three years, by first prohibiting lenders from paying trail commission to mortgage brokers in respect of new loans, then prohibiting lenders from paying other commissions to mortgage brokers”.
In its official response to the royal commission in 2019, the Labor Party had originally proposed banning trail commissions paid to mortgage brokers and capping upfront commissions at 1.1 per cent. However, both sides of the political spectrum have confirmed that they would not be looking to change broker remuneration, after Labor MP Stephen Jones told The Adviser last month that his party would not seek to change it.
Now, following a meeting with members of industry last week, assistant treasurer Michael Sukkar MP has revealed that the federal government will not proceed with the broker remuneration review this year, after acknowledging that the broker commission structure is not problematic.
While the Morrison government had initially said in its official response to the final report in 2019 that it would ban trail commission payments for new mortgages from 1 July 2020, the Treasurer Josh Frydenberg had suggested to Momentum Media that the role of upfront and trail commissions would instead be reviewed in the “back half” of the year. It is this review that has now been dropped.
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
Today I want to look at a range of recent data to highlight just how broken our housing market is. I regularly talk about how high prices are relative to income and how households are under financial pressure, but there are other forces to consider too.
For example, we got updated data from the RBA yesterday on indicative mortgage lending rates, and despite the ongoing debate about if and when the RBA may lift the cash rates, the market is already reacting with higher mortgage rates. Note these are indicative rates, but the trend is clear.
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
Like it or now, Banks hold all the cards if a mortgage holder gets into financial stress. So what are the signs to look for, and how can we avoid getting trapped. I discuss this important issue with Robert Elftmann who has successfully negotiated numerous mortgage disputes with banks and in the best interest of the borrowers since 2010.
Robert is in no way connected or affiliated with the banking industry and is acting independently.
https://www.mortgageresolution.com.au/
Go to the Walk The World Universe at https://walktheworld.com.au/
Like it or now, Banks hold all the cards if a mortgage holder gets into financial stress. So what are the signs to look for, and how can we avoid getting trapped. I discuss this important issue with Robert Elftmann who has successfully negotiated numerous mortgage disputes with banks and in the best interest of the borrowers since 2010.
Robert is in no way connected or affiliated with the banking industry and is acting independently.
https://www.mortgageresolution.com.au/
Go to the Walk The World Universe at https://walktheworld.com.au/
Steve and I discuss the current changes to mortgage rates, what is driving them, and where that might lead.
Steve Mickenbecker is in Canstar’s Group Executive Team, bringing more than 30 years of experience in the Australian financial services industry. As a financial commentator for Canstar, Steve enjoys sharing his expertise across topics such as home loans, superannuation, insurance, mortgages, banking, credit cards, investment, budgeting, money management and more.
https://www.canstar.com.au/team-members/steve-mickenbecker/
Go to the Walk The World Universe at https://walktheworld.com.au/
Today we look at the CBA’s outlook on interest rates, and mortgage stress, as well as the latest from New Zealand on home price and sales growth as both slow.
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
The latest from the ABS for New Lending in November reveals a significant increase, so we look at the data the its implications.
https://www.abs.gov.au/statistics/economy/finance/lending-indicators/nov-2021
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
