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For a refinance they would usually require a valuation. Some lenders do a 'desktop valuation', others require a full valuation. I personally hate desktop valuations because they use data which is just wrong and gives a nonsensical result.

No what I don't understand is people's obsession with whether their fixed rate is 0.01% cheaper than the advertised rate and whether it is the 'best' time to fix. I just don't see the point when investing, in property or otherwise, is a fluid strategy and to lock yourself into a fixed rate is...

What's the big deal about fixed rates? It mystifies me...

It doesn't matter what the RoA is because most of the money is not their own assets. It is money created by them...so basically the return is infinity. I would love that kind of return thank-you-very-much.

Banks derive lots of their income from their wealth management areas and commercial lending. They're not 100% dependent on residential loans.

I've met a few Big 4 relationship managers in my time and they are all pretty incompetent. The good ones these days go to the head office rather than in the branches...

Being a CBA employee goes beyond wearing their badge and uniform. It's hardly independent if your only source of business is one lender.

They're basically employees by any other name.

Well let's not forget that banks, despite their name, are not in the sole business of lending money out. These days they have significant wealth management arms, insurance etc so that is where all the overheads are coming from. The lending area is just getting smaller and smaller.

What do you expect from career politicians running this country...

Nope. As a business why would you reduce the prices of your products if the customer is already buying them? Only with increased competition.

http://www.theage.com.au/business/cba-bendigo-join-banks-in-lifting-rates-20120213-1t1ae.html

You have to distinguish between privately created money and government created money. Government money is the money made by the government - e.g. cash, notes, coins. Privately created money is the money created by the private banks. In Hong Kong, for example, many of the bank notes are...

Only if you want to moved to a fixed rate. I personally have never liked them, no matter what bank it is.

Probably a lot of refinance opportunities out there for disgruntled ANZ customers (myself included :D)

If anyone here actually understood how money works the numbers are simply staggering because they are literally creating that money out of thin air and charging you for it....now which other business can do that?

I'd like to see them do that. ANZ is already a terrible lender and if they try these antics, then they will turn the screws on their own mortgage book. Good luck with that since they aren't making any money in Asia.