Home Loans & Mortgages

National Australia Bank [NAB] is continuing its home loan assault on its bigger rivals by announcing the launch of new discount online home loans, designed and pitched at its main rivals weaknesses. NAB has released its home loans online under its UBank brand NAB’s UBank’s standard variable rate is currently 7.05 per cent pa which is the lowest [...]

The solution that we know we all need is a separate, non-bank mortgage back security enterprise, that is Government sponsored and Guaranteed.
This will level the playing field, so nonbank players can get funds cheaper as cheap or cheaper than the banks. And be able to have lower margins than the banks.
This will create new non bank mortgage players at the local level. Mortgage brokers that can become micro mortgage managers.

Having offered the cheapest standard variable mortgage rate of the four banks since December last year, the demise of exit fees would be welcomed by the National Australia Bank, which stands to gain the most.

So now the Reserve Bank only has to sit on its hands a wait till things change, and maybe the big Banks will make good on their talk and raise their customers mortgage rates without the cover of an official rate rise.

Some experts are now saying that the Reserve Bank of Australia [RBA] could raise interest rates as early as October. More of them agree that there maybe four interest rates rises over 2011 to ease inflation caused by our mining boom.