Mortgage Rates Daily Commentary
Wednesday 5 June 2024
Non-performing housing loans up, monthly mortgage arrears down; Which bank is winning the lending race
The Reserve Bank April figures show non-performing housing loans rising by $137 million to $1.9 billion. [READ ON]
Jenny Ruth digs into the latest Reserve Bank data to find how which banks are writing the most home loans. [See here]
[PROMO] Join the Strong in Six EOS Workshop for Financial Service Businesses!
Throughout this program, we will address the key challenges prevalent in your industry, delve into the concept of 'hitting the ceiling,' and provide strategies to effectively overcome these limitations, thereby facilitating the attainment of your desired success.
In today's fast-paced and ever-changing business landscape, it's crucial to stay ahead of the curve and proactively position your organization for success.
Learn how to use EOS in your business to get Strong in Six and get what you want from your business! [Check out the details]
Online bids for home loans
BankDirect is again luring potential customers with an online home loan tender, which will run from Monday to Thursday this week.
Sunday, February 11th 2001, 5:10PM
BankDirect is again luring potential borrowers with an online home loan tender.
Between Monday and Thursday this week, potential borrowers can go to the bank's website and nominate the amount they want to borrow (between $150,000 and $1 million) and the rate they wish to pay (with a minimum 5.95 per cent). Successful bidders who meet the bank's credit criteria will receive a mortgage at that rate for a year.
General Manager James Mitchell says the response to the first such tender, run in December, was "phenomenal". However, the total amount offered has remained the same - again, $3 million is up for grabs.
Mitchell said that if the demand for this tender was as high as last year's, the tenders were likely to become a regular channel for home owners to obtain their loan from BankDirect.