Rising Oil Prices Fuel Other Fears
LIKE thousands of other families around Australia, the Noonans are heading off on their annual beach holiday during the Easter break.
This year, however, things will be different for banking executive Simon, wife Kate, and children Sam, 7, Poppy, 4, and Lulu, 2.
New Home Loan Numbers Plunge: John Symond
RESIDENTIAL property prices peaked in 2010 and will continue cooling in the next six months as big mortgage brokers report a 20 per cent drop in loan numbers.
Aussie Home Loans managing director John Symond said its new loan volumes had plunged 20 per cent in the past four months because the housing market was soft.
Coles and Woolworths Receive Almost 40 per cent of Australian Retail Spending
* Coles, Woolies get 40c in each dollar spent
* Dominance “obscene”, says Nick Xenophon
* Coles says it’s reduced prices on 5000 lines
ALMOST 40 per cent of retail spending by Australian households now lands in the coffers of either Coles or Woolworths.
Bleak Outlook for Tenants in Australian Rental market
A CRITICAL shortage of vacant properties has led to sharply rising rents with no relief in sight for tenants this year.
Escalating median rents in the March quarter point to sustained hikes throughout the year, according to Australian Property Monitors’ Rental Price Series Quarterly Report.
A shortage of rental properties coupled with landlords passing on last year’s successive rate rises will continue to put the squeeze on tenants across the country in 2011.
Mortgages feel the rate pressure
* Australians feeling mortgage stress
* Rate rise would intensify repayment pressure
* Economy bouncing back
THE number of home buyers unable to meet their mortgage repayments will rise sharply if interest rates increase this year, a study finds.
A report by mortgage insurance heavyweight QBE showed about 2 per cent of people polled as part of the study said they were unable to meet their mortgage repayments with their current household incomes.
But 11 per cent said they would fail to meet their repayments if rates climbed 0.25 percentage points, with the proportion rising to 23 per cent if rates increased 0.50 percentage points.
Bank Clients Switch to Mortgage Brokers
* Broker-written mortgages rise
* First growth in five quarters
* Banks push to attract customers directly
A GROWING number of Australian bank customers are using a mortgage broker to secure a new home loan, as the major banks remain dominant in the market.
A new study by the Market Intelligence Strategy Centre found that broker-written mortgages rose by 7 per cent in the December quarter, which took the value of business to $14.18 billion over the three months, The Australian reports.
Apathy costing $130m, Superannuation Funds Fee
* Excessive fees on unclaimed super
* $5.4bn in inactive accounts
* Handsome interest for ATO
SUPER funds are cashing in on our apathy, reaping an estimated $130 million in annual fees from the record $5.4 billion sitting in lost or inactive superannuation accounts.
The massive revenue haul is courtesy of the excessive fees fund managers are charging to store unclaimed super, fees that in most cases are double that charged on active accounts, super experts have claimed.
Counting the Cost of the Stronger Australian Dollar
* High dollar comes with a downside
* Yes, TVs are “extraordinarily cheaper”
* But retailers aren’t getting ahead
* Herald Sun: Terry McCrann’s columns
WITH news of the dollar smashing through the 104 US cents mark today, Aussies may be rejoicing with their extra spending spending power as they book an overseas holiday or jump online to bag a bargain.
Australia shares gain 0.2 pct
MELBOURNE, April 5 (Reuters) – Australian shares nudged 0.2 percent higher on Tuesday to a six-week high, after Wall Street finished slightly up, helped by a spate of deals and underlying strength in the economy.
Reserve Bank set to hold back on Interest Rate rise
* Rate hike highly unlikely
* Underlying inflation low
* Expect rises later in the year
THE Reserve Bank of Australia is expected to delay its next interest rate rise until well into 2011 after the latest economic data showed underlying inflation had slowed to its lowest level in a decade, despite soaring petrol and food prices.