Stand by to be screwed by your “friendly” bank after the Reserve Bank boosted interest rates yesterday by 0.25% to 7%, writes Glenn Dyer.
Bank lenders
Housing approvals tank, banks face a tough call
The Australian banks have a difficult decision to make after the rate rise: home lending, their most profitable business, isn’t doing well and housing approvals tanked in December, writes Glenn Dyer.
Why a rate rise will only take house prices higher
Interest rate rises are supposed to slow the economy … how then do we explain the surge in house prices in 2007, asks Glen Dyer?
Blogwatch: the Big Banks edition
Swan should have gone in harder … Make the switch? Not so easy … Swan an interventionist leftie.
Banks push niche lenders aside
Non-bank lenders are having a poor time in the mortgage market, with October ABS data showing bank loans accounted for 75.1 per cent of owner occupied lending, the banks’ largest percentage market share since December 1998.
CBA gives a nudge and wink: ditch non-bank lenders
It would have been irresponsible for CBA CEO Ralph Norris to simply tell borrowers to ditch non-bank lenders, to declare borrowers will be hit with significantly higher rates from that quarter, that they’re not as “safe”. That might have sparked something of run on the non-bank businesses. So he did it with a careful nudge and a wink instead.
