murmurs of a radical move by cba tomorrow, page-9

Freewill, my take is actually quite different.

I think the CBA is deliberately pricing itself out of the mortgage market by turning borrowers elsewhere.

CBA is so gorged up with subprime last year, the last thing it needs is a bigger mortgage book.

If I am right, then this is a mirror image of what the UK banks did more than a year ago. They tried to out do one another in being unattractive to borrowers.

NAB was much more conservative last year than the WBC and CBA and if anything it too will scale down mortgage borrowings.

A friend of mine in the NAB retail / mortage business confirmed with me today that the servicability criteria was indeed raised just now !

Hey guys, I think the housing crash is well and truely on the starting block.