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1.Market Observations, 8.Was Sticky

2 July 2018 (AFR) – Big four banks to hike home loan rates as funding costs soar: Citi

(2 July 2018, AFR, p3, by Duncan Hughes)

‘The big four banks, which account for more than eight in 10 of the nation’s mortgages, are expected to raise rates because of soaring funding costs, according to Citi. Major lenders, and their smaller mortgage-centric competitors, can no longer afford to absorb the rising costs of their residential loan books, which account for more than 55 per cent of their total loan portfolios, its analysis warns.’

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

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