ANZ’s rate rise will not impact its share of the mortgage market, CEO Michael Smith told reporters in Malaysia, according to The Sydney Morning Herald.
ANZ attributed higher wholesale interest rates to its decision to increase standard variable home loan rates yesterday.
Credit unions are likely to follow the lead of the major banks by raising interest rates on standard variable mortgages, reports The Advertiser.
Westpac Banking Corporation completed its acquisition of the RAMS franchise distribution business on Friday.
4,429,000 – number of baby boomers in the Australian workforce
The major banks have come under fire as NAB stepped forward to hike its standard variable rate by 12 basis points.
Amid fears of crippling affordability and further interest rate rises mortgage lenders can take heart that the top end of town is still flush with cash.
Members Equity Bank looks set to overhaul the way it funds home loans as a result of the liquidity problems affecting financial markets, reports The Courier-Mail.
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