The big four banks may be exposed to massive losses because of over-inflated commercial property valuations, The Australian reported today.
The total value of owner-occupied housing commitments rose by a seasonally adjusted 2.0 per cent ($298 million) in November.
Economic data released yesterday shows signs that the domestic economy continues to flourish.
Liberty Financial has announced the launch of its third commercial paper programme, the $400 million Liberty Sirius Trust.
The non-bank sector’s Christmas wishes were finally answered on Friday as the last of the big banks lifted their rates.
Bank of America has agreed to purchase troubled mortgage lender Countrywide Financial in a transaction worth approximately US$4 billion ($4.5 billion).
Federal Treasurer Wayne Swan has announced an investigation into home loan exit fees in a move to make the mortgage market more competitive.
The Bank of England left the official cash rate unchanged at 5.5 per cent overnight despite mounting concerns for the slowing of the domestic economy.
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