Competition driving mortgage discounting

The days of discounted mortgages could be coming to an end. Suncorp’s general manager intermediaries – retail bank Steven Heavey said ongoing funding pressures had meant there was now fewer opportunities for discounted pricing. “Many lenders are likely to be pushed to hold firm on rates,” he said.

Connective principal Mark Haron says there will still be opportunities for lenders to discount their mortgages moving forward. “I think the choices lenders make with regards to their rates will be done on a month by month basis.”

Source: The Adviser