As competition in the mortgage market heats up smaller lenders including credit unions are offering better deals.
As competition in the mortgage market heats up smaller lenders including credit unions are offering better deals. The major banks have cut rates to an average of 2.79 per cent for a discounted five-year fixed rate but some smaller players in the market are offering rates as low as 2.39 per cent for fixed rate and 2.0 per cent for variable deals. Credit unions in particular are able to slash rates due to their structure; with no shareholders to appease they can forego profit in return for gaining new customers. Read the full story.
