Stock Market Trading > Mortgages and Banks Lenders

Mortgage delinquencies to increase: Fitch

Mortgage delinquencies rose in the first quarter of 2008 and are expected to increase further as the impact of interest rate rises filters through. More>>

Seiza pulls back on funding

Tough capital market conditions have forced Seiza Capital to reduce funding for some products, including low-doc loans. More>>

GMAC prices $300 million RMBS

GMAC-RFC reportedly priced a RMBS deal yesterday worth $300 million. More>>

BENDIGO Bank has raised its variable home loan interest rate by 10 basis points, citing increased funding costs.

The new rate on Bendigo’s variable home and business loans will take effect on May 6.

Bendigo Bank spokesman Owen Davies said the increase was regrettable, but the bank had to sought to soften the impact of funding increases on customers.

Bendigo Bank lifts variable loan by 0.1%
Bendigo Bank Ltd has raised its variable home loan interest rate by 10 basis points, citing increased funding costs.

Bendigo raises rates to high of 9.65%
THE financial pressures on heavily indebted home-owners continue to build after one of the leading regional banks yesterday lifted its mortgage interest rate to a high of 9.65 per cent - well ahead of the domestic banking pack.
Sydney Morning Herald Business

Lending Money Below the Inflation Rate
Lending money below the inflation rate…giving out money you don’t have, when you are already so deep in debt you will never get out – how could any of this be good for the real economy? But by this time we are so far into Never-Never Land that we will never find our way back.

Allco to Post $1.4 Billion Loss as Cost of Writedowns, Asset Sales Mount
Allco Finance Group Ltd. , the Australian asset manager that lost 90 percent of its market value the past year, forecast a full-year loss of A$1.5 billion as bankers pore over its plans to restructure debt.
Topix - 2:09 p.m. 01 May 08

Allco Finance, Worst Australian Stock This Year, Posts $1.4 Billion Loss
Allco Finance Group Ltd. , the Australian asset manager that lost 90 percent of its market value the past year, forecast a full-year loss of A$1.5 billion as bankers pour over its plans to restructure debt.
Topix - 11:38 a.m. 01 May 08

Allco to Post a A$1.5 Billion Loss in 2008 on Writedowns
Allco Finance Group Ltd ., an Australian asset manager that’s struggling to repay debt, said it will report a loss of more than A $1.5 billion ( $1.4 billion ) in fiscal …
Bloomberg - 10:23 a.m. 01 May 08

Here is an update on the Australian banking sector provided by Australian market analyst UBS.

Australian Banking Sector- Credit growth - is this the tipping point? March credit growth: 0.8%: business 0.9%, personal -0.2%, housing 0.8%: March system credit grew at 0.8%; driven by: (1) good headline growth in business lending 0.9%, although higher due to Feb revision down from 0.5% to 0.3%, (2) sharp slowing in personal credit growth - .2%, the second negative month this yr, (3) housing credit growth stable at 0.8%, with non-banks share continuing to slow.