Mortgage News

Mortgage holders storm out of floating rates

Wednesday 1st of August 2012

The sharp switch is clearly the result of the price war in fixed-term mortgages between the banks which began in late April.

While total mortgage lending by banks grew by $752 million to $173.84 billion in June, up from the $612 million growth in May and $393 million increase in April, lending on floating rate mortgages slumped $2.62 billion in May and has fallen $4.57 billion since Apri...

Want to read the full article?
Click the button below to subscribe and will have unlimited access to full article and all other articles on the site.