Relief on the way for borrowers

first_imgBanks have been tightening up on lending limits for the past four years.More househunters are expected to soon be able to get a mortgage with the national regulatory agency APRA set to loosen its grip on lending limits for the first time in almost five years.Househunters struggling to meet stringent borrowing rules could find some relief soon, with the Australian Prudential Regulation Authority opening talks with banks and financiers over unclamping its strict criteria that mortgages be assessed on the borrower’s ability to make payments at a rate greater than 7 per cent.CoreLogic research analyst Cameron Kusher said it had been almost four and a half years since APRA got financiers to tighten up on lending, requiring a buffer of at least 2 per cent above the mortgage rate for all assessments.“As a result, many lenders used an assessment rate on mortgages of 7.25 per cent,” he said. MORE: Massive $6m sale in coveted riverfront stretch MORE: New Queenslanders helping boost market confidence There has been major concern that many borrowers would not be able to take advantage of low interest rates because they can’t meet tough new rules.“The lending environment has changed quite a lot since that time. We have seen the reintroduction of differential mortgage pricing for owner-occupiers, investor and interest-only borrowers. “Lenders have become much more focused on responsible lending requirements and as a result they are asking borrowers more detailed questions about their financial positions and moved away from using the HEM Index.”Moody’s Investors Service has also weighed in on the issue, saying any such move to loosen APRA’s grip could stem the downturn in housing prices.Frank Mirenzi, Senior Credit Officer, Financial Institutions Groups, Moody’s Investors Service said the proposal would likely increase borrowing capacity.More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours ago“APRA’s proposal to remove the minimum 7 per cent interest rate floor that banks use in their assessment of mortgage serviceability will help support credit growth and could stem the fall in house prices. The APRA change is likely to stem the downturn in housing prices, according to Moody’s Investors Service. Picture: AAP Image/Glenn Hunt.“The proposal will likely increase borrowing capacity and potentially allow households to increase leverage. However, banks have progressively tightened mortgage underwriting practices over a number of years, which mitigates the risks of a resurgence in excessive credit growth and another house price boom.”Mr Kusher said “if someone is offered a mortgage at 3.9 per cent, for example, they are currently being assessed on their ability to repay a mortgage at an interest rate of 7.25 per cent”.“Of course, a mortgage is a 25 to 30 year commitment. Over that period, interest rates will fluctuate, however, now it is a low interest rate environment with low inflation and low wage growth.”This comes amid concern that even if rates were to fall further this year, new borrowers might not be able to take out a mortgage because they wouldn’t qualify under the strict rules. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 APRA is proposed removing its strict 7 per cent floor rate, but would require lenders “to choose a prudent level based on their own portfolio mix, risk appetite and other circumstances”.Mr Kusher said the reasons detailed by APRA included the fact that low interest rates were expected to last longer than expected and lenders had introduced differential pricing for different types of mortgages,“Under these proposed changes, if we look at the same scenario as previous, whereby someone is looking to borrow at an interest rate 3.9 per cent. This borrower would previously been assessed on their ability to repay the mortgage at an interest rate of 7.25 per cent, now they would be assessed on their ability to repay at a lower 6.4 per cent.”Mr Kusher said the move seemed “sensible” given the current environment and the fact that rates were expected to continue to fall.Big Four bank ANZ has told the market that the downturn in borrowing capacity was being driven mostly by HEM changes (60 per cent), servicing rate floor at 7.25 per cent (30 per cent) and income haircuts (10 per cent). FOLLOW SOPHIE FOSTER ON FACEBOOKlast_img read more

Think Ya Know? Is Marijuana a Gateway Drug?

first_imgThe marijuana lobby gets very upset at any suggestion of marijuana being called a gateway drug. Of course, not everyone who starts using marijuana uses other drugs; some just go on to stronger versions of marijuana, such as “wax,” “dabs” or vapes. Others may not use anything stronger than the old-fashioned weed of the last century.Yet the scientific evidence suggests it is a gateway drug that can open the doors to other addictions, including alcohol: Studies show that marijuana affects dopamine receptors and our brain’s reward system which may lead to the use of many other different drugs. In one study done by the University of Michigan Medical School, researchers found a negative correlation between the amount of marijuana consumed over time and the amount of dopamine that was released in the brain in response. Smokers will then seek other drugs in order to achieve the high they used to experience with pot.The National Institute on Drug Abuse says cannabinoids are able to decrease the reactivity of brain dopamine reward circuits over time, leaving frequent marijuana users vulnerable to other drug addiction. Additionally, THC promotes an enhanced response to other drugs in the same way that alcohol and nicotine do, which may lead to the progression of more drug addictions that may cause a toxic overdose.last_img read more

Lampard key to Werner joining Chelsea

first_imgTimo Werner revealed Chelsea manager Frank Lampard was the main factor in his choice to join the Blues for next season despite interest from a host of other top European clubs.Advertisement Loading… The German international was highly sought after with Liverpool linked with a move for a number of months after Werner spoke glowingly of Reds’ boss Jurgen Klopp.However, he said it was Lampard’s vision for how he would fit into a new-look forward line next season, with Hakim Ziyech also already signed from Ajax, that convinced him to come to Chelsea.“He was the main point; we talked a lot about things like system, like how he wants to play and sees me playing, and how the system fits to me,” Werner told the Chelsea website of Lampard’s influence.“He is a really nice guy who not only told me what he wants from me as a player because he wants to help me as a guy. He knows me now a little bit better and it fits very good between us and now I am happy to be here.” final day win over Wolves secured Chelsea’s place in the Champions League next season and they seem set to spend big to try and close the gap to Liverpool and Manchester City at the top of the Premier League.As well as Werner and Ziyech, Kai Havertz is reportedly close to a move to London from Bayer Leverkusen, while Chelsea are also keen to strengthen at goalkeeper and left-back.– New generation –Werner watched the team Lampard played in alongside the likes of Petr Cech, John Terry and Didier Drogba win multiple Premier League titles and the Champions League and wants to help create a new era of success.“When you have a decision to go from your old club and you come to a big club like this, it was for me a dream which came true because Chelsea is a very big club,” he added.“I know of the players before when they won the Champions League with Drogba, with my new manager Frank Lampard, Petr Cech.“I want to be part of a new era here so I will play to try to give my best.”And Werner believes his style of play is perfectly suited to make the transition from his homeland to England.“The style of the Premier League is very fast and my speciality is that I am really fast so I think it is perfect for me to play here,” he said.Timo Werner’s first interview as a Chelsea player!— LDN (@LDNFootbalI) July 28, 2020Read Also: Video: Timo Werner first Chelsea training emerges online“It is another league in another country so I can improve myself to bring it to another level, so those are the reasons I come to the Premier League and to Chelsea.“I’ll try to score as much goals as I can for Chelsea, that is the big reason why they bought me, to bring the goals I scored in Leipzig here, and maybe score more goals than there.”FacebookTwitterWhatsAppEmail分享 Werner, 24, scored 34 goals for RB Leipzig in the 2019⁄20 season but will not be part of the German side’s Champions League campaign next month as he has already arrived at Stamford Bridge to prepare for next season. Promoted ContentCouples Who Celebrated Their Union In A Unique, Unforgettable Way8 Superfoods For Growing Hair Back And Stimulating Its GrowthWhat Is A Black Hole And Is It Dangerous For Us All?Underappreciated Movies You Missed In 201910 Hyper-Realistic 3D Street Art By Odeith5 Of The World’s Most Unique Theme ParksBest & Worst Celebrity Endorsed Games Ever Made5 Of The World’s Most Unique Theme ParksPlaying Games For Hours Can Do This To Your Body6 Interesting Ways To Make Money With A DroneWho Earns More Than Ronaldo?What Is A Black Hole In Simple Terms?last_img read more

City make most of Mignolet mishap

first_img Press Association Manuel Pellegrini’s side made it an impressive nine out of nine – with 37 goals scored – to move into second place behind Arsenal as the Reds slipped to fourth after a 2-1 defeat. However, had Raheem Sterling’s effort not been wrongly ruled out for offside before either side had scored – and goalkeeper Simon Mignolet not made a hash of Alvaro Negredo’s winner – Brendan Rodgers’ side could well have got much more out of this game. Kompany’s header wide from a corner gave Liverpool a warning which they later failed to heed as City continued to probe and press. By the time Negredo fired wide Suarez had already aimed a low free-kick straight at Joe Hart as the tide started to turn. Sterling’s diagonal run from the right had already been picked out once by Suarez without success but when the Uruguay international found the youngster again and he did not make the same mistake, going around Hart to score into an empty net. Play was brought back by an offside flag but television replays showed Sterling was at least two yards behind the last defender when he was played through. The same pair combined for the opening goal in the 24th minute when Suarez’s ball over the top was destined for Sterling only for Coutinho to come in from the left and score from a narrow angle. City’s response was instantaneous as Yaya Toure went past three defenders with one turn only to be denied by the outstretched leg of Martin Skrtel. The Slovakia defender has been singled out recently as the weak link at defensive set-pieces and while he was busy trying to grapple with Kompany the City captain had eyes only for David Silva’s corner and glanced a header past Mignolet. With City now holding the upper hand again Liverpool fire them a warning after a brilliant move via Suarez and Sterling saw Coutinho forced Hart into a smart save. But City often catch opponents napping on the counter-attack and so it proved on the stroke of half-time when Mignolet failed to deal with Negredo’s shot with outside of his left foot from Navas’ through ball as the visitors were cut wide open. Negredo tried a similar effort early in the second half but this time the goalkeeper was better positioned. The attacks continued at both ends with Sterling coming the closest with 17 minutes remaining when he diverted Suarez’s inviting cross over from seven yards. Late on Suarez appealed for a penalty with Lescott pulling at his shirt but as Skrtel had spent most of the match doing that to Kompany there was almost an argument for it being the same for both sides. As it was they contributed much to an enthralling match which was billed as a test of their title credentials. That may still be something of a distant dream, considering Rodgers was forced to name 19-year-old reserve team defender Brad Smith in his squad for the first time, but it did plenty to suggest their top-four challenge is alive and well. City, of course, remain favourites for the title and their home form will be a major factor in achieving that but for all their goals what was just as impressive about this performance was the way Kompany and Joleon Lescott kept the Premier League’s top scorer Luis Suarez on a tight leash in terms of chances. Philippe Coutinho’s opener sparked the home side into life and after Kompany had equalised from a corner Negredo’s 14th goal of the season ultimately clinched another three points. No team have scored more at home in the Premier League than City this season while Liverpool were the top flight’s top scorers on the road so the signs were good and the first half did not disappoint as both sides attacked each other freely. City had the better of the first and last 15 minutes with their visitors enjoying the middle third. The home side set out trying to exploit the weakness on Liverpool’s left where Aly Cissokho, the unconvincing on-loan Valencia defender, was making his first appearance since November 9 because of makeshift left-back Jon Flanagan’s hamstring injury. Jesus Navas almost made that pay when his looping header hit the outside of the post after he nipped in front of the Frenchman to meet a left-wing cross. Manchester City retained their imperious 100 per cent home record as they denied Liverpool the chance to regain top spot in the Barclays Premier League in an entertaining encounter at the Etihad Stadium.last_img read more

Sherwood hopes Benteke will stay

first_img Benteke is likely to be a transfer target for big clubs in the coming months, with Liverpool the latest to be linked after his run of nine goals in eight games. Sherwood has no intention of selling the big Belgian but concedes if Benteke wanted to go and the money was right, he would be allowed to leave. Press Association “Every player and staff member is concentrated on avoiding relegation, anything else is just a distraction. “I know everyone wants the same thing because I watch the games and I think Aston Villa are playing the best football in England right now.” Villa face Everton this weekend just two points clear of the Barclays Premier League relegation zone. He said: “I haven’t heard anything about that, but it’s good news that people are talking about Christian again because he’s scoring goals and if he’s scoring goals for us, we’re happy. “I’ve no idea what he’d cost, because I don’t want to sell him. It would have to be a lot of money for anyone to take him from us. “He’d be too expensive for a great deal of clubs in the Premier League. But we’re not looking to sell our assets and he’s certainly one of those. “If a player doesn’t want to play for the club anymore and the club he wants to go to meet the valuation then I think it’s always best to let them go.” The former Tottenham boss added: “It would be about the market value of what’s out there but I have no intention of selling Christian. “He’s enjoying his football and I saw some positive things said by his agent, saying he had not talked to other clubs or seen any interest from other clubs and that Aston Villa were playing the best football out of any team in the league. I think he was spot on there.” Indeed, the 24-year-old’s agent Eris Kismet said this week his client was focused solely on Villa, where the forward has hit a purple patch after managing only three goals this season under Sherwood’s predecessor Paul Lambert. “At the moment, there is no interest,” Kismet told Sky Sports News HQ. Aston Villa manager Tim Sherwood will not stand in Christian Benteke’s way if the striker wants a lucrative move to another club this summer. last_img read more

Golson picks apart shorthanded Syracuse secondary

first_imgEAST RUTHERFORD, N.J. — Julian Whigham didn’t realize Everett Golson threw 25 straight completions.“He had 20 straight completions?” the SU cornerback said when asked about them. “… Wow. Good for him.”They came quick. And while the Syracuse (2-2) secondary largely limited No. 8 Notre Dame’s (4-0) passing attack to short passes to the outside, time on the field with Golson took its toll. Being shorthanded in Wayne Morgan’s absence and the defensive line not getting enough pressure on Golson tore at the SU secondary enough for Notre Dame to get 362 yards and four touchdowns through the air.“That’s going to happen if you don’t get consistent pressure on the quarterback,” SU defensive line coach Tim Daoust said.Brandon Reddish had an interception in the first quarter and recovered a fumble, but he also got beat by Corey Robinson for a touchdown, despite tugging the Fighting Irish wide receiver’s jersey off his shoulder pads.AdvertisementThis is placeholder textWill Fuller torched Corey Winfield for 72 yards and a score in the second quarter. Winfield converted from wideout to cornerback in training camp and slid into the No. 3 corner spot as Morgan missed the game with a knee injury.“The depth part was difficult,” Whigham said. “Obviously me and (Reddish) took a few more plays and that took a toll.”UND’s next longest pass was a 23-yarder, but the consistent stream of short passes was potent enough for the Fighting Irish. Whigham said the Irish simply took what they could get against SU’s softer zone.And when Notre Dame did go deep it was against tired defensive backs, contributing to three defensive holding penalties and two pass interference calls.Whigham said the Orange is up for the short turnaround for Friday’s game against Louisville. But as it prepares for the Cardinals, it’ll be looking to reinforce the secondary.“I think Corey (Winfield) did a good job, got his feet wet,” Whigham paused, laughing. “He got his feet wet and I think he’s confident though. He’s feeling good. He finally got some game action and that’ll really be beneficial to us going down the road.” Comments Published on September 29, 2014 at 12:15 am Contact Jacob: | @Jacob_Klinger_ Facebook Twitter Google+last_img read more

Social Work students petition changes

first_imgPart-time School of Social Work students are currently petitioning the administration in reaction to new curriculum implemented this year. Amanda Armoogam, the Master of Social Work student heading the petition, met with administrative leaders last weekend to discuss the effects of the new curriculum on part-time students.Armoogam’s concerns involve students who were displaced from their original campuses and who will now struggle to finish their coursework in time for certification. But she is also concerned with the fact that the administration made these changes without consulting students, and without informing them in advance. The School of Social Work held several town hall meetings last year to inform students that the curriculum would be changing, but the specific changes were never announced.It wasn’t until August that Armoogam found out the specific changes. Many of her classmates remained unaware for months into the semester, only discovering the issues when they went to enroll for spring classes. After reaching out to her own classmates, Armoogam created a Facebook page to bring together students who are affected. Since then, she’s been contacted by students from every campus who are concerned about the effects of the new curriculum.“I was kind of shocked,” Armoogam said. “I knew it was 300 students being affected, but I didn’t realize that at every campus there were students being affected by it.”The new curriculum creates several problems for current students. A major program was cut in San Diego, meaning that some students must commute from their homes in San Diego to the Orange County campus, or take their classes online. Additionally, two classes that used to be part of the core MSW curriculum have been merged. For students who already took them, the classes are now counted as two of the three electives that each student is allowed to take.These changes mean that some students are commuting for around four hours a day, a cost in both time and money that was unexpected up until this year. They also mean that some students will have to take extra classes after graduation, since the electives they previously planned to take are unavailable to them with only one elective slot left. For these reasons, Armoogam has created a petition and begun talking to administrators over the last few months in order to make the voices of the MSW students heard.The petition includes four main requests from the administration. One is for travel stipends and free parking spaces to be granted to displaced students who must travel to a different campus for their studies. This request was agreed upon during the meeting on Saturday. However, Armoogam believes there are still important measures to take to ensure fair treatment for MSW students.“The big question here is, as a private college, do they have to answer to the students?” Armoogam said. “Are administrators really allowed to make major changes without even informing the students, not to mention asking their opinions?”Armoogam said she hopes to secure a scholarship for students whose elective options were diminished or altered by the change. The new curriculum cut $3 million in electives funding, and many of the elective options were altered. This means that students don’t have the same access to the electives necessary for graduation. The petition asks for scholarships to offset the added classes that students might have to take due to this change.The petition also requests that students on the Orange County campus are allowed a semester of weekend courses. These courses give more flexibility to students who are part-time and work jobs during the week. The request includes lowering the minimum student enrollment to 10 students, in order to make the class more available.The final request involves the Pupil Personnel Services Credential, a type of authorization that allows students to specialize in school counseling, school social work, school psychology and child welfare in schools. Armoogam wants a Virtual Academic Center option for the students working toward this program. This virtual option would also make it easier for students who are part-time and can’t add a third class.Each of these requests would help students in a different way, but Armoogam believes that each is an important part of supporting MSW students in light of the new curriculum. With the first request already met, Armagoom hopes this will be an ongoing discussion that will result in a curriculum that more closely mirrors the old one. Her main concern, however, is making sure that all students can take the classes they need the most and still graduate on time.“My hope is that they recognize that students are participants in the program,” Armoogam said. “For us to not have a say in our organization and how it’s run is a shame.”Corrections: This article previously mispelled Amanda Armoogam’s name as Armagoom. It also stated Provost Michael Quick was present at the meeting. He was not. The Daily Trojan regrets the errors.last_img read more

Syracuse ice hockey routs Penn State, 5-1

first_img Facebook Twitter Google+ Published on February 24, 2017 at 7:28 pm Contact Jake: Syracuse (14-12-5, 13-4-2 College Hockey America) continued its strong push towards the CHA playoffs with a 5-1 rout of Penn State (9-19-5, 8-9-2) Friday afternoon at Pegula Ice Arena in University Park.Five minutes into the second frame, Syracuse’s Savannah Rennie scored the first goal of the game — her seventh of the year. With under two minutes left in the period, Rennie scored again to give SU a 2-0 lead after two periods.Penn State answered quickly, scoring its only goal 25 seconds into the third. The Orange answered five minutes later with a goal by Allie Munroe.Then Sarah Stuehr scored her first career goal — her first point of the season — to put the game out of reach. Stephanie Grossi scored with under five minutes remaining to make it 5-1.Senior starters Jessica Sibley and Heather Schwarz did not play in the game. Sibley was out with an undisclosed injury and Schwarz is in Connecticut for a family matter and did not travel with the team.AdvertisementThis is placeholder textEmily Costales led the team with three points on three assists and Abbey Miller saved 16 out of the 17 shots she faced.Syracuse faces Penn State tomorrow at 2 p.m. in University Park in both teams’ regular-season finales. Commentslast_img read more

Casumo expands into the UK with sportsbook launch

first_img Related Articles UKGC launches public awareness campaign on gambling controls, rights and safeguards August 3, 2020 Submit StumbleUpon Share Malta-based online operator Casumo has confirmed that it will be expanding into the UK betting market after launching its new sportsbook which will be made available on mobile, desktop and via the Casumo Sports app.The new launch will allow punters to personalise their betting experience upfront by selecting their favourite sports and leagues.“I am excited to be able to bring Casumo’s approach to UK sports fans,” stated Greg Tatton-Brown, country manager for the UK. “We have put the player front and centre in the development of a sportsbook product that is approachable and user-friendly.”The news of a UK expansion comes at a time when Casumo has revealed how its partnership with Championship-side Reading FC has helped benefit a number of causes.In addition to dedicating more than half of its messaging to responsible gambling via its initiative, the company has worked with Reading FC to support special events such as Remembrance Day and the Rainbow Laces Campaign.Adorning the from of the Reading shirts, as well as LEDs, programme adverts and posters across the stadium, during the 3-2 home defeat by Birmingham, an auction of the strips subsequently raised over £3,000 for GamCare’s BigDeal Programme.Mike Kenward, development director at GamCare, commented: “This donation towards our important work with young people is very much appreciated. Our BigDeal programme gives young people the facts about gambling so that they can go on to make safe and informed choices about gambling should they choose to participate in the future.”Furthermore, Casumo also changed their front-of-shirt logo in support of the Rainbow Laces campaign last year, and donated their shirts to the local LGBT charity, Support U.“Its commendable to see a gambling brand using a sponsorship for good causes,” said Nigel Howe, chief executive at Reading Football Club.“I hope that others will follow suit to drive positive change for the gambling industry. We’re thrilled to be partnered with Casumo in all its efforts to support our team, its fans and the Reading community.” GambleAware forms ‘Lived Experience Group’ supporting treatment research July 23, 2020 GambleAware data finds stigma to be key barrier to treatment for women July 16, 2020 Sharelast_img read more

The Irish will host the Dragons at the beautiful Stadium Aviva in Dublin

first_imgFootball national team of Ireland will host the national team of B&H at the stadium Aviva for the second match of the playoffs which is to be played on November 16. Aviva is a truly beautiful football temple with an always great sports atmosphere.Stadium Aviva is located in Dublin, Ireland. Its capacity is 51.700 seating places. The stadium was constructed at the site of the former stadium Lansdowne Road which was demolished in 2007. Stadium Aviva became home of the rugby national team and the football national team of Ireland. Decision on the construction of the new stadium was reached after the failure of plans for the construction of the stadium Ireland and the stadium Eircom Park. Aviva Group signed a ten-year contract in 2009, according to which the stadium is to bear its name.(Source: photo sport1)last_img read more