Business Services Industry
All quiet on the home loan front but deposit rate rise is ominous.
Australasian Business Intelligence, November, 2006
Byline: Tim Blue
Nov 08, 2006 (The Australian - ABIX via COMTEX) -- Australia's banks kept their counsel about home loan interest rates on 8 November 2006, after the official cash rate went up. ING Direct and BankWest announced that they were increasing their deposits rates and others indicated they would do the same. On the other hand there were no statements on the premier standard variable home loan rate, which is usually priced at about two per cent more than the official rate. It illustrates the impact that "second-tier" lenders are having on traditional mortgage providers.
Publication Date: 9 November 2006
BANK OF WESTERN AUSTRALIA LIMITED
SCOTTISH WESTERN AUSTRALIA HOLDINGS PTY LTD
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