Ratecity.com.au

<html><body>
AMP has announced it will discontinue self-managed super fund (SMSF) property lending.
It will continue to support existing SMSF home loan customers, however, from November they will not be permitted to switch to interest-only, internally refinance or extend their loan term.
The announcement follows similar moves from CBA and Westpac in recent weeks.
Westpac stopped SMSF home loans for new customers on 31 July, while CBA announced its ban would take effect from 12 October 2018.
Both Westpac and CBA will continue to support existing SMSF loan customers.
RateCity research director, Sally Tindall, said the writing could be on the wall for SMSF property lending.
“Today’s announcement from AMP comes as a shock to no-one,” she said.
“AMP’s new chairman, David Murray, has been one of the most vocal critics of self-managed super fund property lending,” she said.
In 2014, the Financial System Inquiry recommended that the government remove the exception to the general prohibition on direct borrowing for limited recourse borrowing arrangements by superannuation funds - although Scott Morrison, who was then treasurer, rejected the recommendation.
“Banks are focused on reducing risk in their loan books. In a falling property market, it’s not surprising we’re seeing lenders retreat from this type of lending,” Tindall said.
“Macquarie Bank, Bendigo Bank and Bank of Queensland are now the biggest banks in a dwindling pool of providers offering SMSF property loans,” she said.
List of lenders offering SMSF loans from next month:
<table style="width: 685px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="163">
Lender
</td>
<td valign="top" width="224">
Product
</td>
<td valign="top" width="113">
Max. LVR
</td>
<td valign="top" width="113">
Advertised rate
</td>
</tr>
<tr>
<td valign="top" width="163">
Bank Australia
</td>
<td valign="top" width="224">
SMSF Residential
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.25%
</td>
</tr>
<tr>
<td valign="top" width="163">
Bank of Queensland
</td>
<td valign="top" width="224">
Business Term Loan
</td>
<td valign="top" width="113">
75%
</td>
<td valign="top" width="113">
5.55%
</td>
</tr>
<tr>
<td valign="top" width="163">
Bendigo Bank
</td>
<td valign="top" width="224">
SMSF Loan
</td>
<td valign="top" width="113">
On assessment
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
Big Sky Building Society
</td>
<td valign="top" width="224">
SMSF Limited Recourse Investment Loan
</td>
<td valign="top" width="113">
75%
</td>
<td valign="top" width="113">
6.43%
</td>
</tr>
<tr>
<td valign="top" width="163">
Heritage Bank
</td>
<td valign="top" width="224">
SMSF - Fully Drawn Loan
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.24%
</td>
</tr>
<tr>
<td valign="top" width="163">
Hume Bank
</td>
<td valign="top" width="224">
Self-Managed Super Fund Loan
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
5.90%
</td>
</tr>
<tr>
<td valign="top" width="163">
IMB Bank
</td>
<td valign="top" width="224">
SMSF Loan
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
La Trobe Financial
</td>
<td valign="top" width="224">
SMSF Residential
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.99%
</td>
</tr>
<tr>
<td valign="top" width="163">
Lendex
</td>
<td valign="top" width="224">
 
</td>
<td valign="top" width="113">
On assessment
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
Liberty Financial
</td>
<td valign="top" width="224">
SuperCredit
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.99%
</td>
</tr>
<tr>
<td valign="top" width="163">
LJ Hooker Home Loans
</td>
<td valign="top" width="224">
Accelerator SMSF
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
6.00%
</td>
</tr>
<tr>
<td valign="top" width="163">
Macquarie Bank
</td>
<td valign="top" width="224">
SMSF Property Loan
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
6.00%
</td>
</tr>
<tr>
<td valign="top" width="163">
Mortgage House
</td>
<td valign="top" width="224">
Home Loan Prime (SMSF - Class 1)
</td>
<td valign="top" width="113">
60%
</td>
<td valign="top" width="113">
5.09%
</td>
</tr>
<tr>
<td valign="top" width="163">
Red Rock Mortgages
</td>
<td valign="top" width="224">
SMSF residential express
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
6.29%
</td>
</tr>
<tr>
<td valign="top" width="163">
Regional Australia Bank
</td>
<td valign="top" width="224">
SMSF Housing Loan
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.87%
</td>
</tr>
<tr>
<td valign="top" width="163">
Resi
</td>
<td valign="top" width="224">
SMSF Loan
</td>
<td valign="top" width="113">
On assessment
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
Resimac
</td>
<td valign="top" width="224">
 
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
Switzer Home Loans
</td>
<td valign="top" width="224">
SMSF Loan
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
6.22%
</td>
</tr>
<tr>
<td valign="top" width="163">
Yellow Brick Road
</td>
<td valign="top" width="224">
SMSF Property Loan
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
5.97%
</td>
</tr>
</tbody></table>
</body></html>

j.ballantyne1990-6AQqhLzZaK

AMP the latest lender to ditch SMSF property lending 

<html><body>
New figures released from the ABS show new home lending plunged in the month of April by $935.5 million.
In the same month, Australians wiped a record $1.55 billion off debt accruing interest on their credit cards – the highest drop on record.
HOUSING 
The ABS lending indicator statistics released today show that new lending dropped by 4.80 per cent, month-on-month, with the total value of new lending down by $935.5 million compared to March 2020, according to the seasonally adjusted data. Of this, a $720.9 million drop was from new owner-occupier loans. 
Refinancing, however, picked up pace – the number of external refinances increased by 11.20 per cent in the month of April, and 26.96 per cent, year-on-year, according to the seasonally adjusted figures.
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td rowspan="2" nowrap>
Value of new loans
</td>
<td>
% change 
</td>
<td>
% change 
</td>
</tr>
<tr>
<td>
Mar 2020 – Apr 2020
</td>
<td>
Apr 2019 – Apr 2020
</td>
</tr>
<tr>
<td nowrap>
Total housing
</td>
<td nowrap>
-4.80%
</td>
<td valign="bottom" nowrap>
11.24%
</td>
</tr>
<tr>
<td nowrap>
Owner occupiers
</td>
<td nowrap>
-5.00%
</td>
<td nowrap>
14.75%
</td>
</tr>
<tr>
<td nowrap>
Investors
</td>
<td nowrap>
-4.23%
</td>
<td nowrap>
2.38%
</td>
</tr>
</tbody></table>
Notes: Seasonally adjusted figures. Figures exclude refinancing.
Source: ABS lending indicator statistics for April 2020, released 10 June 2020.
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td rowspan="2">
Number of owner-occupier loans
</td>
<td>
% change 
</td>
<td>
% change 
</td>
</tr>
<tr>
<td>
Mar 2020 – Apr 2020
</td>
<td>
Apr 2019 – Apr 2020
</td>
</tr>
<tr>
<td nowrap>
First home buyers
</td>
<td nowrap>
-3.75%
</td>
<td nowrap>
15.56%
</td>
</tr>
<tr>
<td nowrap>
Refinancers
</td>
<td nowrap>
11.20%
</td>
<td nowrap>
26.96%
</td>
</tr>
</tbody></table>
Notes: Based on the number of new loans to owner occupiers using seasonally adjusted figures.
Source: ABS lending indicator statistics for April 2020, released 10 June 2020.
CREDIT CARDS
Statistics released yesterday from the RBA show that outstanding debt accruing interest dropped by $1.55 billion or 5.76 per cent. The highest monthly drop on record. 
<div>
<div><button title="Show original size" type="button" data-is-focusable="true"></button></div>
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap>
TOTAL
</td>
<td>
Apr-20
</td>
<td>
Mar 2020 vs Apr 2020
</td>
<td>
Apr 19 vs Apr 2020
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Number of accounts
</td>
<td valign="bottom" nowrap>
13.50 million
</td>
<td valign="bottom" nowrap>
-136,817
-1.00%
</td>
<td valign="bottom" nowrap>
-1.09 million
-7.48%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Total balances accruing interest
</td>
<td valign="bottom" nowrap>
$25.43 billion
</td>
<td valign="bottom" nowrap>
-$1.55 billion
-5.76%
</td>
<td valign="bottom" nowrap>
-$4.10 billion
-13.87%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Total value of purchases
</td>
<td valign="bottom" nowrap>
$14.72 billion
</td>
<td valign="bottom" nowrap>
-$6.43 billion
-30.42%
</td>
<td valign="bottom" nowrap>
-$7.22 billion
-32.92%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Total value of cash advance
</td>
<td valign="bottom" nowrap>
$307.44 million
</td>
<td valign="bottom" nowrap>
-$199.54 million
-39.36%
</td>
<td valign="bottom" nowrap>
-$287.76 million
-48.35%
</td>
</tr>
</tbody></table>
</div>
Notes: excludes commercial cards, using original data from the RBA. Data released 9 June 2020. 
RateCity.com.au research director, Sally Tindall, said a lot of Australians spent their lockdown refinancing their mortgages and getting on top of their debt.
“Australians spent the month of April getting their finances in order, scaling back spending and knocking down their debt, with the biggest monthly drop in debt accruing interest on record,” she said.  
“The early access to superannuation program is likely to be a factor in this record busting drop, giving some Australians an opportunity to wipe clean their credit cards that was, in their mind, too good to refuse.
“Refinance activity has also taken off during lockdown. We expect this to continue to gain pace with many homeowners looking to sure up their finances. 
“In relation to mortgages, today’s drop is likely to be the beginning of a long road ahead for the home lending market.  
“In April alone, nearly one billion dollars of new lending was ripped out of the property market, as the country went into lockdown; the biggest monthly drop in new lending since October 2015, in dollar terms,” she said.
</body></html>

Aussies hunker down on debt in lockdown

<html><body>
Homestar Finance has claimed the title of the lowest fixed rate on the market for new home buyers and refinancers.
The new rate of 1.98 per cent is fixed for one year, reverting to an ongoing variable rate of 2.49 per cent. The rate requires borrowers to have a 20 per cent deposit and comes with upfront fees of $1,010.
RateCity.com.au analysis shows if an owner-occupier with a $400,000 home loan switched from the average existing owner-occupier rate of 3.28 per cent, to this new rate from Homestar Finance they could potentially save $3,796 in the first year, including refinancing costs, or $15,816 in the first five years. 
Sally Tindall, research director at RateCity.com.au, said today's rate cut would ignite further competition among the low-cost lenders in a bid to claim the title of Australia’s cheapest home loan.
“At 1.98 per cent, this is the lowest fixed rate available to everyday Australians, but it’s important to remember it only lasts for a year. That said, the revert rate is still significantly lower than the big four banks’ variable rates,” she said.
Despite no move to the cash rate, lenders are continuing to cut both fixed and variable rates. Just last week, loans.com.au launched a new lowest introductory variable rate of 1.99 per cent for one year.
“It’s starting to feel like the end of an auction where the competitors are edging each other on in small increments,” she said. 
“But they’re all playing ball, pushing each other below the two per cent barrier.
“We expect rates to keep nudging lower over the next few months as lenders try to capitalise on the current refinancing boom,” she said.
Lowest 1-year fixed rates on RateCity.com.au
<table class="x_x_x_MsoNormalTable" style="width: 337px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="225">
Lender
</td>
<td width="112">
Advertised rate
</td>
</tr>
<tr>
<td width="225">
Homestar Finance
</td>
<td width="112">
1.98%
</td>
</tr>
<tr>
<td width="225">
Greater Bank
</td>
<td width="112">
2.09%
</td>
</tr>
<tr>
<td width="225">
UBank
</td>
<td width="112">
2.14%
</td>
</tr>
</tbody></table>
 
Lowest 2-year fixed rates on RateCity.com.au
<table class="x_x_x_MsoNormalTable" style="width: 337px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="225">
Lender
</td>
<td width="112">
Advertised rate
</td>
</tr>
<tr>
<td width="225">
Homestar Finance
</td>
<td width="112">
2.06%
</td>
</tr>
<tr>
<td width="225">
HSBC
</td>
<td width="112">
2.09%
</td>
</tr>
<tr>
<td width="225">
BCU
</td>
<td width="112">
2.12%
</td>
</tr>
</tbody></table>
 
Lowest 3-year fixed rates on RateCity.com.au
<table class="x_x_x_MsoNormalTable" style="width: 337px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="225">
Lender
</td>
<td width="112">
Advertised rate
</td>
</tr>
<tr>
<td width="225">
UBank 
</td>
<td width="112">
2.14%
</td>
</tr>
<tr>
<td width="225">
BCU
</td>
<td width="112">
2.16%
</td>
</tr>
<tr>
<td width="225">
Macquarie Bank, Westpac
</td>
<td width="112">
2.19%
</td>
</tr>
</tbody></table>
</body></html>

Home loans hit new record low of 1.98 per cent

<html><body>
Saving rates have continued to plunge even though the Reserve Bank isn’t expected to cut the cash rate today, says Australian financial comparison website RateCity.
RateCity analysis shows that more than 40 banks cut saving account rates, including CBA, NAB, Macquarie Bank and AMP.
Average ongoing saving rates now sit at 0.59 per cent.
Research director Sally Tindall says complacent savers are earning next to nothing in this low rate environment.
“Seventy-six per cent of all household deposits are held by the big four banks, yet they’re the ones offering some of the lowest ongoing savings rates on the market.”
Westpac is the only big bank bucking the trend, offering an impressive 3 per cent rate for customers aged 18 to 29.
At the same time interest rates have continued to fall, deposits have hit an all-time high, according to the latest APRA statistics.
This means banks don’t need to attract new savers, Tindall says.
“They can’t even afford to offer respectable returns to the customers they’ve got.”
Just last week, Macquarie Bank slashed its introductory rate by 0.50 per cent to 1.50 per cent while AMP terminated its welcome rate altogether.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-09-01%20at%2012.51.53%20pm.png" alt=""> 
Introductory rates across the big four banks have dropped by an average of 1.12 per cent while the ongoing savings rate has dropped by 0.09 per cent.
The average cash rate has dropped by 0.75 per cent in the last year for the big four, while the conditional savings rate has dropped to 0.92 per cent.
</body></html>

Savers stung by falling rates, despite no likely RBA cut: RateCity

<html><body>
The Reserve Bank is set to leave interest rates unchanged again when it meets next Tuesday, according to an analysis of 23 leading economic indicators.
Comparison website <a href="https://ratecity.com.au/" target="_blank">RateCity.com.au</a>’s ‘Rate Forecaster’ found that 21 of the 23 indicators suggested the RBA would leave the official cash rate at a record-low 1.50 per cent, where it has been since August 2016.
It’s now been seven years since the Reserve Bank lifted the official cash rate.
RateCity money editor Sally Tindall said it is unlikely the RBA will hike rates anytime soon.
“It’s incredible to think there is a now a large number of first home buyers who’ve never experienced a rate hike. Seven years is a long time between increases.
“However, when the RBA meets on Tuesday there is currently no strong case to move official interest rates.
RateCity’s analysis of official data shows there has been little change in GDP, unemployment, construction, auction clearance rates and retail sales figures.
“Lower than expected inflation figures and wage growth stalling at just 1.9 per cent provide an argument for the Reserve to cut rates, but that’s unlikely.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/2/inflation5.jpg" alt="">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/2/Wages1.jpg" alt="">
“The RBA will also be concerned Australia’s household debt-to-income level increased from 190.0 per cent to a record 193.7 per cent in the last quarter – a worrying trend that that leaves them in a difficult position.
“If they hike rates, they will risk sending thousands of Australians into financial hardship. Conversely, if they lower rates, it will encourage others to take on more debt.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/2/Debt4.jpg" alt="">
“In short, it’s hands are tied until wages growth, and the broader economy, strengthen.
“Until then, home owners can rest easy in the knowledge that their mortgage repayments won’t be increasing anytime soon,” said Tindall.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/2/Econ3.jpg" alt="">
 
</body></html>

jonathanchancellor-7SQnKwU6yx

RBA’s seven-year itch: the growing number of Australians who’ve never experienced a rate hike

<html><body>
<div>
While the RBA are likely going to leave official interest rates on hold when they meet next Tuesday, it hasn’t stopped lenders hiking rates out-of-cycle. </div>
<div> </div>
<div>
Heritage Bank is the most recent to hike rates, joining Bank of Queensland, AMP, Auswide and IMB in raising variable home loan interest rates over the last week. </div>
<div> </div>
<div>The increased cost of funding has put the squeeze on banks’ profit margins and some lenders are choosing to pass some of the cost onto borrowers.</div>
<div> </div>
<div>
<a id="LPlnk206699" href="https://www.ratecity.com.au/home-loans" target="_blank" rel="noopener noreferrer"></a>RateCity spokesperson Sally Tindall said if the bank bill swap rate (BBSW) continues to rise we will see more lenders joining the party.
</div>
<div> </div>
<div>“Banks are weighing up whether they can wear the rising costs, or hike rates and risk customer backlash."</div>
<div> </div>
<div>“After months of negative press generated by the Royal Commission, our banks are treading a fine line."</div>
<div> </div>
<div>“We’ve seen a handful of smaller lenders hike rates, but so far nothing from the big four."</div>
<div> </div>
<div>"It will be interesting to see how long they hold out.” Sally stated.</div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2018/6/28/Ratecity%20graph%202.JPG" alt=""></div>
<div> </div>
<div>In the decade prior to 2008, Australia’s major banks moved their variable rates in line with the cash rate. </div>
<div> </div>
<div>When the RBA made a cut, so did the banks and by the same amount.</div>
<div> </div>
<div>As a result, the margin between the RBA cash rate and the major banks’ standard variable rates was consistently 1.8%, while the margin between their discounted variable rates was roughly 1.2%.</div>
<div> </div>
<div>But as the global financial crisis unfolded, the costs of funding started to climb.</div>
<div> </div>
<div>In January 2008, the major banks made their first out of cycle rate hike in almost nine years, sending shock waves through the public and resetting the industry standard for how interest rates are set.</div>
<div> </div>
<div> <img src="https://www.urban.com.au/images/2018/6/28/Ratecity%20graph%201.JPG" alt="">
</div>
<div> </div>
<div>Over the last decade banks have been making their pricing decisions based on a wide range of competing factors, leading to an ever-growing gap between the cash rate and the banks standard and discounted variable rates.  </div>
<div> </div>
</body></html>

More out-of-cycle home loan rate hikes to come: RateCIty

<html><body>
Banks have put the brakes on lending to people with small deposits, according to new research from RateCity.
Banks have slashed the number of mortgage products with a maximum loan-to-value ratio (LVR) of 95% in the past three years. 
Fewer than a third of home loans in the RateCity database now offer lending up to a maximum of 95% of the value of the property.
That’s down from 76% of all loans on offer in early 2015, in line with lending guidelines by the Australian Prudential Regulation Authority (APRA), who want banks to loan with small deposits to be the exception, rather than the rule.
Sally Tindall, spokesperson at RateCity, said the banks were actively looking for deposits of 20%, if not more.
“For Australians battling to crack into the highly competitive home loan market, low-deposit loans have been a doorway in," Tindall suggested.
"But the rules have changed and now borrowers that might have been given the green light three years ago are starting to be turned away."
RateCity research shows that upgrading from a 5% deposit to a 20% deposit on a $500,000 mortgage will require a buyer to stump up an extra $75,000 in cash.
“These new LVR requirements will set a lot of potential buyers back, because they just don’t have access to that kind of money.
“But the alternative is worse. Stretching yourself thin at record low interest rates can be a recipe for disaster.
“It’s been over seven years since we’ve experienced an RBA rate hike and people have become complacent. These new LVR rules will sharpen the focus who is serious about securing housing finance,” Tindall said.
</body></html>

Banks tighten the screws on small-deposit home loan borrowers

<html><body>
ANZ has cut owner-occupier principal and interest rates on its basic home loan, bringing the rate down by 34 basis points to 3.65 per cent.
ANZ has also cut some of its fixed home loan rates by up to 24 basis points for owner-occupier principal and interest and up to 13 basis points for investor principal and interest loans.
This follows similar loan rate cuts from Commonwealth Bank earlier this week.
According to the latest Canstar data 10 different institutions made rate changes to their home loan products, with a total of 58 product level changes recorded.
Sally Tindall, research director at RateCity.com.au, said it was a surprising move from ANZ to buck the rate-hike trend.
"This is now the lowest ongoing variable rate offered by a Big Four bank," she said. 
“It shows that the bank is competing hard to get new customers as non-banks threaten their market share."
“This comes at a time when the market was expecting ANZ to hike rates and not cut them and the Royal Commission has turned the playing field on its head,” she concluded.
<img src="https://www.urban.com.au/images/2018/8/3/Canstar%201.JPG" alt="">
</body></html>

ANZ now offers the lowest ongoing variable home loan rate among Big Four

<html><body>
First home buyers are the biggest holder of home loans in almost six years.
This is despite an overall fall in today’s ABS housing finance figures.
The seasonally adjusted figures for June show an overall drop in new lending of 1.6 per cent from the previous month with falls from both investors and owner-occupiers.
While housing finance continues its downward trend, first home buyers have capitalised on a less-crowded market, recording 18.1 per cent of new home loans in June.
This is the highest proportion since October 2012.
The average loan size for first home buyers has also hit a record high of $349,800.
RateCity research director Sally Tindall said today’s data showed first home buyers were taking advantage of a cooling market.
“First home buyers are finally getting some time in the sun. There’s space in the market for them to find their feet without having to go toe-to-toe with cashed-up investors.
“While a lot of investors have sworn off property until the bottom of the market hits, first home buyers who are looking for a place to call home for the next five or 10 years are often more focused on the long game.
Today’s ABS housing finance figures also show non-bank lenders are continuing to gain market share from the banks.
Non-banks have increased the value of new owner-occupier loans by 13.37 per cent, year-on-year, while banks recorded a drop of 0.81 per cent in the value of new loans over the same period.
“The banks are throwing everything at potential new customers to attract new business and put a stop to this slide. It will be interesting to see how far they go in order to protect their market share,” she concluded.
</body></html>

Ratecity.com.au

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Ratecity.com.au

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News