it should be noted with interest that the NAB National bank of Australia and other competitors have recently lowered home mortgages.
This is at a time when the reserve bank has left rates unchanged.
Surely one has to wonder why that is.
when in history did we see the banks lowering interest rates early? Because they thought that the reserve bank of Australia might lower interest rates in future and out of the sheer love of their customers that they lowered their interest rates in anticipation.
what a bullshit story that is.
how about this, that all the banks are panicking about mortgage defaults, because so many people are in the mortgage stress.
And that by lowering the interest rates, they may be able to alleviate that stress enough to not have mortgage defaults en masse.
because if they end up having masses of mortgage defaults, their entire existence may be at risk.
