by Joyce Moullakis. Macquarie Bank has joined the ranks of lenders lifting their variable mortgage rates, shifting the spotlight to the big four banks and how they may manoeuvre to protect profit margins. A jump in funding costs is to blame for smaller banks and other lenders moving out of step with the Reserve Bank of Australia on rates.
MBS RECAP: Straightforward, Rotten Day For Bonds · Posted To: mbs commentary bond markets tanked after NFP this morning. This sort of thing is to be expected when payrolls print 280k vs a 225k forecast (and a 201k ADP print earlier in the week). Relative to yesterday’s latest levels, bond markets are still in pretty bad shape, but they’re better off than they were in the immediate wake.
Macquarie lifts its mortgage rates, and the question now is if the major banks will follow. The major banks still have an 80% share of the housing market. The banks have been tightening lending with the prudential regulator focusing on sound lending practices.
NAB is raising its Tailored home loan variable rates. to the same increasing wholesale funding costs and market pressures as other major lenders." Increases in mortgage rates are news for a reason..
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Macquarie lifts its mortgage rates, and the question now is if the major banks will follow A major bank just announced the lowest 10-year fixed mortgage rate ever Mortgage rates today, January 29, 2019, plus lock recommendations
How The Fed Affects HELOC Rates The Federal Reserve increased short-term interest rates today to the highest level in a decade. The move, which is good news for savers, will put added pressure on consumers’ borrowing costs.
Macquarie lifts profit guidance. and financial services division had total deposits in line with the previous quarter at A$46.3 billion and a 4% rise in its Australian mortgage portfolio to A.
Inflation is the ultimate enemy of the dollar, lowering the value of everything from groceries to bonds, and thus mortgage rates. Both mortgage rates and bonds are a fixed return investment: when inflation rises, it cancels out the dollar’s value, and investors are set to make less money on their investment.
New APRA guidance on lending will hurt home owners when it should be the banks. they can service a 7% mortgage interest rate on a loan to value ratio of less than 90% with less income being.
Macquarie announced late on Monday that it would lift its variable mortgage rates, putting pressure on the big four banks. Macquarie’s shares fell 0.9 per cent to $122.52 during the session.
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