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1
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· Posted on
February 21, 2024

CommBank has been losing home loan market share faster than you can say "refinance"

CBA has seen its home loan market share drop for the second month in a row.

What's the key learning?

  • This is the first time CBA has seen consecutive drops in their home loan market share in over 20 years.
  • The other three of the big four banks saw their market share rise over the same period.
  • A red-hot market waits for no one - not even the industry titans.

👉 Background: CBA is the big gun when it comes to Australian banks with over 25% of the total home loan market.

👉 What happened: Now, CBA has seen its home loan market share drop for the second month in a row. This is the first time CBA has seen consecutive drops in their home loan market share in over 20 years.

👉 What else: To make matters worse, the other three of the big four banks saw their market share rise over the same period. So it seems that customers have been jumping ship to lenders with better rates.

What's the key learning?

💡A red-hot market waits for no one - not even the industry titans.

💡 CBA's mortgage book might have only shrank by 0.3% last month, but it happened while their competitors' mortgage books grew... and while mortgages across the industry rose by $10 billion.

💡So it's likely that CBA will need to be more aggressive on their pricing to take back their market share.

‍

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