Is ‘ultra-cheap’ funding on its way out?
A second big four bank has gone and hiked its fixed home loan rates for owner-occupiers. ...
Real Estate Institute of Australia president David Airey is calling on Treasurer Wayne Swan and Joe Hockey to put their energy towards developing solutions to banking issues rather than exhausting their efforts throwing barbs at each other over banking regulations.
“There are a lot of issues to be addressed in our banking system and the bickering and one upmanship is not achieving anything for bank customers,” Mr Airey said.
According to Mr Airey, the decision to initiate a Senate Inquiry into aspects of the Australian banking sector is a positive step.
“Banks are very important to the success of the Australian economy, but far more competition is needed to allow smaller regional banks access to the same international funding that the big four have,” he said.
“REIA awaits with interest, the Government and Treasurer’s plans for increasing competition into the banking sector.”