Interesting..................not like we havent been making any money of late
Removal of Advanced Notification Period for Home Loan Fixed Interest Rate Changes
Effective immediately, you will be notified of home loan fixed interest rate changes on the effective date of the change. We will no longer advise of fixed interest rate changes in advance.
Under the current practice, we are experiencing a spike in the volume of requests to switch to fixed rates or to rate lock a loan application in the period between notifying of a fixed interest rate change and the effective date of the change. This volume of business is often written at unsustainable margins due to the increased cost of funds.
We aim to provide our customers with the most competitive rates possible. This means that we make the decision to increase fixed rates only once our own costs of funds have already risen
Removal of Advanced Notification Period for Home Loan Fixed Interest Rate Changes
Effective immediately, you will be notified of home loan fixed interest rate changes on the effective date of the change. We will no longer advise of fixed interest rate changes in advance.
Under the current practice, we are experiencing a spike in the volume of requests to switch to fixed rates or to rate lock a loan application in the period between notifying of a fixed interest rate change and the effective date of the change. This volume of business is often written at unsustainable margins due to the increased cost of funds.
We aim to provide our customers with the most competitive rates possible. This means that we make the decision to increase fixed rates only once our own costs of funds have already risen