Australians Changing Banks in Record Numbers: Small Banks Reporting Large Gains in Customers

Mortgage broking firm, The Mortgage Gallery Rockingham, deciphers what the numbers mean to the average homeowner, and how they can take advantage of the new financial climate. Perth, Western Australia (PRWEB) October 03, 2012 According to the Australian Bureau of Statistics, 35% of housing loans taken out in 2011-2012 were refinancing loans on existing mortgages. According to the bureau, those loans were responsible for virtually all growth in home loans during that time period. Currently, banks refinance $1 billion in loans each week. The reason so many people are refinancing is a combina
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