/PRNewswire/ The home equity lending market size is set to grow by USD 35,535.04 million from 2022 to 2027. The market is estimated to be progressing at a.
/PRNewswire/ According to Technavio, the global home equity lending market size is estimated to grow by USD 35,535.04 million from 2022 to 2027. The market.
Mortgage Business
CBA hikes floor rate, predicts 2022 rate rise By Malavika Santhebennur 24 June 2021
The big four bank has said that it has increased its serviceability floor rate to ensure it continues to lend responsibly, and has predicted that the cash rate will rise to 1.25 per cent by Q3 2023.
The Commonwealth Bank of Australia (CBA) has increased its serviceability floor rate to 5.25 per cent per annum, up from the previous floor rate of 5.10 per cent, effective 19 June.
However, the major bank said its interest rate buffer of 2.50 per cent has remained unchanged.
Explaining the reason for the floor rate increase, a CBA spokesperson said that it is to ensure that CBA continues to lend responsibly in the current record-low interest rate environment, and added that it has formed a part of its regular monitoring and review
Mortgage Business
Commercialising open banking next priority: bank By Malavika Santhebennur 11 January 2021
Commercialising available data under the open banking regime and developing this into a compelling value proposition for customers will be the next battleground for lender, a bank CEO has said.
Customer-owned lender Police & Nurses Ltd CEO Andrew Hadley said that while the initial priority for financial institutions is to ensure availability of data under the open banking regime, P&N Group is giving consideration to what the implications of open banking are for customers.
Following on from this, the bank’s priority is to create a “compelling” value proposition for customers to use open banking effectively.