By Rick Adlam on Tuesday, March 16, 2010
The Commonwealth Bank Of Australia is the first bank in Australia to denounce the no deposit loan as not meeting their new tightened guidelines. But will that eventually come back as jingle mail to haunt them if other lenders won’t refinance their bad loans?
Posted in Adelaide Bank, ANZ Bank, Banks, Commonwealth Bank, Home Buyers, Home Loans, Housing Market, Low deposit mortgage, Mortgage Industry, Non Bank Lenders, US Finance | Tagged Adelaide Bank, Aussie Home Loans100% mortgage loans, CBA, Commonwealth Bank, Credit Histories, credit squeeze, lo doc home loan, no deposit home loan, no deposit home loans, Property Boom, Safe As Houses, Variable Rate Mortgages
By Rick Adlam on Tuesday, March 16, 2010
The banks have been tightening their credit guidelines on home buyers for over the last year and this is stangling building companies cashflow and construction activity slowed for the 11th month straight.
Posted in Banks, Home Buyers, Housing, Housing Market, Interest Rates, Mortgage Rates | Tagged Credit, home builders, Home Buyers