Live updates: Australian Banking Association says home loan buffer could be 'more flexible', higher interest rate worries weigh on US stocks, ASX lowerLive updates: Australian Banking Association says home loan buffer could be 'more flexible', higher interest rate worries weigh on US stocks, ASX lowerAustralians shares are trading lower, following losses suffered on Wall Street overnight as worries that interest rates will stay higher for longer weigh on investors.
Mr Kerr said NAB has always supported first homebuyers but personal banking margins had reduced as a result of competition and it was not making as much of a profit on mortgages as it has historically. Mr Kerr didn't answer directly and said it was "one lever that could be considered" and the he believed it was "modest".Hey there! Rachel Clayton here to take you through the rest of today.Small and medium-sized enterprises are feeling even worse about business confidence, according to NAB.
"We do not think it is right to push up our customers' borrowing capacity to an absolute threshold," he says.reiterating that supply is the biggest problem facing Australia's housing market and barriers to entry for first homebuyers.
The share price has fallen this week after questions were raised about the actions of its founder and CEO Richard White."As far as retail shareholders, we're concerned around succession planning.wouldn't say if Mr White should step aside, saying it's a decision for the board and Mr White.This note from ANZ:
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