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Competition returning to mortgages says RBA

18/03/2010

Guy Debelle, assistant governor of the Reserve Bank of Australia, said at an industry event yesterday that the market share of the big banks in Australia had peaked. “My guess is that (the market share of major banks) has topped out,” Debelle told a Mortgage Finance Association of Australia event in Melbourne.

"As securitisation comes back, it does make the non-banks and regional banks more competitive."Debelle added: "I'm not sure there will necessarily be lower home loan rates. It's not going to put downward pressure on mortgage rates but it will prevent upward pressure."

Source: Herald Sun



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