Westpac shares fall 5% as mortgage applications drop 20% after tax changes
Westpac stock slid about 5% after the lender reported a roughly 20% fall in mortgage applications, which it linked to recent tax changes affecting property buyers.
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Australian shares slip as Westpac drags on banks before RBA decision
The benchmark index edged lower, led by financials, as investors positioned ahead of the Reserve Bank of Australia's rate decision.
Westpac says mortgage applications fell 20% after Australian tax changes
Westpac reported a 20% decline in mortgage applications following changes to Australia's tax settings, an early signal of cooling demand in the housing credit market.
Westpac posts steady third-quarter profit growth but flags margin pressure
Westpac reported steady profit growth in its third quarter, with management pointing to building pressure on net interest margins.
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