Competition between the banks for mortgages could heat up again, as CBA loses market share

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The competition between mortgage lenders to get your business could soon be heating up again, analysts say, as the nation's largest lender loses market share for the first time in five years.

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Data from the banking regulator shows the Commonwealth Bank has lost market share for owner-occupier home loans for two months in a rowThe nation's biggest bank has lost market share in the residential lending space for the first time in more than five years."While CBA is likely to have some patience, history shows this is not unlimited and if its market share continues to contract, we expect it to react with price," explained Barrenjoey's Jonathan Mott, in a recent note.

Mortgage brokers funnel through a lot of business to lenders, with about 60 per cent of new and refinanced loans coming via that sector.Ms Johnstone says it is worth keeping an eye on rates over the next few months.

 

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