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Short term loans going from 14% to 18% (28% higher interest...

  1. danbradster
    5,777 Posts.
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    01/09/23
    02:08
    Post #: 69676980
    Short term loans going from 14% to 18% (28% higher interest cost) may be less significant than highly leveraged mortgages going from 2% to 5% (150% higher interest cost).

    I think more significant is that lots of low credit-score customers will be turned away from almost all lenders. So some people forced into homelessness etc instead of a short term loan.

    The ASX listed short term lenders I looked at all claim increasing average Equifax scores. I guess ProductReview websites will show more complaints from people being turned away.
    MME Price at posting: 7.7¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch. 1  Great analysis
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