Why specufestors are done for the cycle

Tuesday 29 May 2018

Via the AFR:

ANZ, the nation’s third largest mortgage lender, is the latest banking major to target interest-only property investors with big cuts to residential loans.

The bank is reducing popular two year interest-only residential investment loan and the less popular two year interest in advance by 26 basis points. It means the headline rates are reduced to 4.33 per cent and 4.13 per cent respectively.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.