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1.Market Observations, 8.Was Sticky

13 July 2018 (AFR) – AMP blames funding costs for slugging property borrowers with 17bp rate rise

(13 July 2018, AFR, p4, by Duncan Hughes)

‘AMP Bank, the banking division of the nation’s largest financial conglomerate, is blaming rising funding costs for increasing mortgage rates by up to 17 basis points for interest-only and principal and interest loans. It follows recent rises and/or fee increasess by ING, Macquarie Bank and listed-lender Homeloans in response to rising funding costs, falling demand and the need to protect net interest margins.’

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

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