Online banking provider UBank has today unveiled the newest member of its customer service team - RoboChat, Australia’s first artificially intelligent virtual assistant for online home loan enquiries.
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Major bank customers could wind up paying an extra $40 a month on their home loans, if banks do as they’ve suggested and hike interest rates in order to cover the Budget’s big bank levy.
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Aussie borrowers have been hammered with interest rate increases lately, but now there’s another cost for them to keep their eye on - home loan fees.
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You may have heard the latest Federal Budget includes a tax incentive that will allow first home buyers to save up for their mortgage deposits faster, in a policy the government hopes will improve housing affordability.
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While all eyes are on the 2017 Budget announcement, NAB has once again raised interest rates on its interest-only fixed rate home loans.
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As expected, the big 4 have totalled a profit of $15.7 billion for the first half of the year. They’re also set to rack up $792 million in extra interest over the next six months thanks to the recent home loan variable rate rises.
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Westpac has raked in more than $4 billion from cash earnings over the last six months, a 3% increase for the major bank, who announced the results to shareholders today.
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A new report on the Melbourne property market has highlighted the potential vulnerability of investors in the Victorian capital, with “record low” rental yields one of several factors that could cause future home loan repayment stress.
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Reserve Bank Governor Philip Lowe has weighed in on the national housing crisis just days before the Federal Government is due to release its 2017 budget, suggesting that high housing costs could continue to reinforce wealth inequality in Australia.
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NAB reported a cash profit of $3.29 billion today, with a net statutory profit of $2.55 billion, which bounced back from a loss of $1.74 billion in the March 2016 half year.
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