Big-four bank mortgage market share raided as refinancing booms

A refinancing boom is eroding the major banks’ dominant share of the $2 trillion mortgage market, as their customers shop around for more competitive interest rates with minor lenders.

PEXA’s head of research Mike Gill says the trend is particularly apparent in the key NSW and Victorian markets, and it has occurred while big banks removed some of their ultra-cheap fixed-interest rate mortgage deals.“If you look back to the start of the pandemic, the major banks were quite successful in winning more refinancing. Obviously, those fixed rates motivated many borrowers to move across,” Gill says.

If the bank giants had grown their new mortgage portfolios in line with their 75 per cent share of all existing home loans during this period, they would have expanded their loan books by about $23 billion.

clancyyeates It’s how the markets are supposed to work.

clancyyeates That’s what happens when you take customers for granted, rip them off and provide poor service. Big banks show no loyalty or care for their customers yet are shocked when we do the same? Best thing I ever did refinancing elsewhere

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Queensland state budget increases taxes on big business to fund new hospitals and mental health servicesQueensland treasurer Cameron Dick hands down 2022 state budget with $23.bn in health spending, a payroll tax levy and increased coal royalties Vax mandates, punching holes in workplaces, industries and families everywhere. Stop stuffing around with miners and tax the hell out of them Tax Wastage should be a crime jyst like Tax Evasion is. Most Labor Politicians would be in jail where they belong.
La source: GuardianAus - 🏆 1. / 98 Lire la suite »

Big-four bank mortgage market share raided as refinancing boomsNew PEXA data show the big-four banks are losing thousands more refinancing deals than they are winning each month.
La source: smh - 🏆 6. / 80 Lire la suite »

Shaggy coat, big fringe a hit with hobby farmers as 'attractive' Highland cow trends in marketSince the pandemic, Highland cattle prices have gone from $400 to up to $20,000, with aficionados starting a bidding war online for the boutique breed. A breed from the Scottish Highlands. Should go well in the Australian heat. It was at the moment God saw humans demanding attractive cows, He proclaimed 'Fuck this shit, I'm out' Yummy beef 🍖 and good hide as well.
La source: abcnews - 🏆 5. / 83 Lire la suite »