The Governor of the Bank of Australia, Phillip Lowe, said in a recent press conference that if the request is rejected, the homeowner can ask the bank to provide a lower mortgage loan agreement and can also switch to another bank.
Affected by the central bank’s rate cut, the net interest margin of the four major Australian banks has been continuously compressed.
Lowe said that the central bank did not set a fixed value for the medium-term yield of 5-year or 10-year government bonds. The yield of 10-year government bonds is currently stable at around 0.75%. Whether it will fall further will be determined by the market.
