Are Bank Variable Rates Getting Squeezed More Than Ever?

It was probably 12 months ago that good fix rates were around. The crazy thing with banks at the moment is that even though the RBO rate's gone up 3%, bank variable rates haven't gone up 3%. So what that means is that bank margins are getting squeezed now more than ever. They're having to fight for new customers through refinancing. And what they're also doing, which is they've never done this before, is they're reprising existing customers almost as good as new customers. We're going literally through every single client right now and asking their current bank to give them a better deal. Otherwise, we're leaving. But right now, if you call your bank and

Transcript

Play full episode

Transcript

Episode notes

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app