ANZ Seen as Competing Harder for Mortgages

Dow Jones
12 hours ago
 

2325 GMT - Increasing numbers of Australian mortgage brokers see ANZ as the major bank competing hardest for business, Macquarie analysts say. Pointing to the results of Macquarie's annual survey of Australian mortgage brokers, the analysts say there has been a 42% on-year rise in the number of brokers who call out ANZ as the most competitive. Commonwealth Bank and National Australia Bank are at the bottom of the list, the analysts say in a note. ANZ is perceived to have become significantly more competitive on pricing and offers, but they wonder whether the lender is buying share and see risk of revenue attrition in fiscal 2027 and fiscal 2028. The analysts add that the importance to customers of borrowing power has risen sharply amid rising interest rates and changes to property related tax breaks.

 

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