Home buyers like CommBank and ANZ

According to AFG’s quarterly Competition Index, the big four banks increased their mortgage market share from 75.7 per cent in September 2012 to 79.4 per cent last month, largely because they out-priced their smaller rivals in fixed rate loans – a product category that has soared in popularity in recent months.

Particularly strong performers were ANZ and the Commonwealth Bank.

The big banks have made especially deep inroads into the first home buyer market where non-majors have traditionally been strongest. The big four grew their share of first home buyers from 74.4 per cent in September to 77.9 per cent in March 2013.

Source: The Adviser