In half-year financial results Westpac says pressure on profit margins has eased with its pullback from aggressively competing in the home loan market
Follow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcast
Mortgage holders are facing a lack of vigorous competition from the country’s major lenders, creating a scarcity of good deals, while at the same time elevated interest rates and high living costs push more households behind on repayments.
Westpac disclosed in its half-year results on Monday that mortgage competition had tempered in a trend that is good for bank profitability but bad for customers seeking new loans or refinancing old ones.
Continue reading…In half-year financial results Westpac says pressure on profit margins has eased with its pullback from aggressively competing in the home loan marketFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastMortgage holders are facing a lack of vigorous competition from the country’s major lenders, creating a scarcity of good deals, while at the same time elevated interest rates and high living costs push more households behind on repayments.Westpac disclosed in its half-year results on Monday that mortgage competition had tempered in a trend that is good for bank profitability but bad for customers seeking new loans or refinancing old ones.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…