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Mortgage discounting to continue in 2012

25/11/2011

Home buyers can continue to expect mortgage discounts next year as big banks battle each other for a bigger share of a sluggish lending market according to the Deloitte Australian Mortgage Report.

New mortgages are at their lowest level of growth in 20 years, Deloitte partner and report co-author James Hickey says.

Banks will have to strike a balance between attracting borrowers with discounts and delivering shareholder returns, but consumers can expect to benefit, Mr Hickey said.

"The price war will continue in the short term," he said. "Consumers are still getting a very good deal."

Source: Herald Sun



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