It’s the bonfire of the vanities now, from Evil Anna at the ABA on APRA’s interest-only crumble:
[it] will allow all banks to offer more choice for customers, leading to an increase in competition across the industry, particularly for smaller and regional bank.
While banks will continue to lend prudently, today’s decision will mean all banks can offer more choice for customers who are looking to buy a house or apartment.
Increased competition across the industry will mean customers have more ability to shop around for the best deal for them when looking at an interest-only home loan.
Unless or until the Hayne RC is thoroughly neutered I maintain that the impact will be marginal.
