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1.Market Observations, 8.Was Sticky

24 Nov 2016 (AFR) – Property lenders hike rates by 60 basis points

(24 November 2016, AFR, p3, by Duncan Hughes)

‘Lenders are raising the cost of buying property by up to 60 basis points as the impact of the “Trump effect” and growing expectations that central bankers are set to end the era of record low rates ripple through global markets. Rising costs of funding debt are also widening the competitive gap between the big four, which can largely fund lending from customer deposits, and the smaller lenders that are more reliant on capital markets.  It also heralds the beginning of the end for the sub-4 per cent fixed rate offers that have contributed to record levels of switching between lenders by cost-conscious borrowers.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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