Rate cuts to flow more freely, claims bank boss

Font size :

The days of banks holding back on RBA rate cuts may be over, one major bank boss has hinted.

Speaking to investors, NAB boss Cameron Clyne has said easing funding costs have made it easier for the bank to pass on full RBA cuts. At the company's half-year results briefing yesterday, Clyne said competition for deposits was easing.
 
"Obviously if markets remain benign, both in deposit competition and wholesale, you can probably look to more interest rate cuts," Clyne said.
 
The comments came as Clyne announced the bank saw a half-year cash profit of $2.92bn, up 3.1% from a year ago. While NAB continued to see strong home loan growth, the bank's aggressive move to grab market share has slowed somewhat. NAB saw home loans grow at 1.7 times system for March 2013, compared to 2.6 times system growth for September 2012.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Saturday, Sep 23, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords