Peter,you are aware that Banks say one thing and can do another.I had a friend who has a loan, complained each time when the major banks put up rates more than the cash rate or even without the cash rate going up.Each time he complained he got his way.Few complain and so pay more interest!!
ANZ recently sucked a lot of customers away from the other banks by using low rates and now they are the highest rate. As the old saying goes "sucked in!".Still they can fix their rate. Its a pity that small busines is getting hit once again. High payroll costs, high power costs and a superannuation bill to pay - they really dont stand a chance do they?
I thought this warranted comment:85% of ANZ mortgage customers already ahead on their repayments.De- or disleveraging in action? The reason the economy is a bit fragile right now?
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