Asterisk Banking
Banks aren’t just competing on interest rates anymore. They’re competing on headlines and hoping you will skip the fine print. Welcome to a world where the real news is found attached to an asterisk.
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Race, Rates, Rivals
Isn't competition a wonderful thing? We've seen a week of it. Banks cutting rates, fintechs sharpening pencils, brokers attracting fairer treatment and regulators weilding a bigger stick. Here's what caught our eye.
Bigger Bets Everywhere
It’s double down week on Money Road. First-home buyers are borrowing more to own less. Retirees are mortgaging the family home to fund cruises. Investors are being offered easier loan terms - just as the government tries to loosen their their grip on the housing market. Also, the little bank which discovered that "growth" and "due diligence" don't always travel together.
The Great Wobble
Banks are slashing rates like there's a fire sale on money, first home buyers are out of the room, and mum and dad have the jitters. Nobody has fallen over yet, but everybody’s nervous. Welcome to The Wobble
The Trust Issue
Once upon a time, a simple handshake was enough to close a deal. It was a time when banks trusted mortgage documents, customers trusted banks, buyers trusted professionals and regulators trusted industries to police themselves. So, what happened?
Progress, Profits & Compassion
This week, the government chased very small wins, a bank rediscovered compassion, regulators dived into murky waters and investors realised there is no accounting standard called optimism.