Profits rise, mortgage loans plummet

Did poor response times affect ANZ’s mortgage volumes in the second half of the financial year? In figures released today, the big four banks reported that it sold just $ 278 billion in home loans in the second half, $ 3 billion (or nearly one percent) less than in the first half. “We started the … Read more

New York Community Says Flagstar Deal Won’t Close Until 2022

New York Community Bancorp no longer expects to complete its pending bank acquisition this year. The Long Island-based company does not anticipate that state and federal regulators will approve its $ 2.6 billion deal to buy Flagstar Bancorp in Troy, Michigan before the end of the year, President and CEO Thomas Cangemi told analysts. Wednesday. … Read more

CommBank expects rate hikes for November 2022

CommBank now expects the Reserve Bank of Australia (RBA) to start moving the cash rate needle by November next year. CommBank’s latest Economic Insights report points to strong economic results next year thanks to “exceptional” vaccine adoption, job market stability and the reopening of NSW and Victoria. “Of course, there is still a lot of … Read more

VA loan vs. Conventional loan | Pros cons

VA loan versus conventional loan summary When it comes to VA loans versus conventional loans, it’s often an easy choice: VA, if eligible. But home loans are not for everyone, and your situation may be different. Some homeowners are better off with a conventional loan, even Yes They are rated by VA. Fortunately, it’s easy … Read more

ANZ Records 72% Increase in Profits

ANZ has announced a huge increase in earnings, with its NPAT increasing by 72% year-on-year. It will pay $ 1.42 per share as a dividend, 80% more than in 2020. The Big Four bank surpassed $ 6 billion in profits with the addition of 179,000 new home loans in Australia alone. Pre-tax earnings were flat … Read more

Westpac and BoQ will be the first to increase damping rates

“The new damping rate will apply to any application received on or after Friday, October 20, 2021,” Westpac said in a memo to brokers. “Applications received through ApplyOnline until Thursday, October 28, 2021 inclusive that are accompanied by sufficient standard supporting documents to allow the evaluation of the application, will have the previous damping rate … Read more

Guidelines to Know Before Buying

With the cost of buying a house growingSome buyers turn to manufactured homes as a more affordable alternative. However, getting a mortgage to cover this type of home can be a bit complicated. Lenders tend to view manufactured and mobile homes at a different level of risk than traditional properties. What is a manufactured home? … Read more