How to benefit from the coming mortgage price war
Australian mortgage holders are being advised to actively negotiate with banks as a slowing housing market triggers increased competition for loan customers. Borrowers are encouraged to seek out better rates rather than relying on passive loyalty.
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Provides actionable financial advice for homeowners navigating a competitive lending environment.
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Share A A A There haven’t been many good news stories for home loan borrowers lately, as most of the focus has been on rising interest rates and falling house prices .
However, the housing slump may also bring something of a silver lining to the 3.3 million-odd households with mortgages. As mortgage lending slows, it’s forcing banks to compete more aggressively, giving customers the opportunity to save on their home loan. On current trends, it looks like there’s a mortgage price war coming.
Competition between banks in the mortgage market is heating up. But unlike other price wars that occasionally break out in the supermarket aisles, for example, borrowers who go about their business as usual won’t automatically benefit from this bout of interbank hostilities.
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