Thursday, August 23, 2007

Cannex estimates that the low-doc mortgage market is worth $38 billion today and accounts for 16 per cent of the home loan market. It reviewed 389 loans. The most significant finding of the survey was the wide variation in rates.

No record, no salary, no problem

They liked the loans because they didn't have to supply a year's worth of payslips to get approval. Because of what is happening in the US, experts say we have only seen the tip of the iceberg. Cannex said the 15 biggest banks may do more than just threaten to push up variable home loan rates in the coming months if the crisis worsens, but it was the smaller Australian low-documentation lenders that may start to drop like flies

Posted by chris :-)) @ 12:21 AM (449 views)
Please complete the required fields.

Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>