Banks fight mortgage rate reset with…MOAR mortgage rate reset

Friday 27 July 2018

Some folks never learn, via the AFR:

More than 10 lenders, including Commonwealth Bank, Westpac Group and Suncorp are increasing honeymoon rates on home loan products by up to 55 basis points for investors and home buyers.

The deals are intended to stimulate a flagging market, attract borrowers that meet tough serviceability criteria and win new and existing borrowers from competitors.

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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.