The Reserve Bank left the cash rate at 1.50 per cent but there's speculation of up to two rate cuts this calendar year. Last year, some lenders raised rates and lending standards tightened resulting in a cut of applicant borrowing power.
The ACCC said opaque mortgage pricing made it hard for borrowers to shop around. Where borrowers are concerned, it's no longer reasonable to assume cash-rate changes will drive home-loan interest rates.
RBA Governor Lowe highlighted the importance of borrowers seeking a better home-loan deal, drawing attention to the discounts on headline interest rates lenders may offer.