Macquarie low-doc rate jumps 70 basis points

Macquarie Mortgages has raised the rate on its stated income low doc loans by 70 basis points.

A Macquarie spokesperson told Mortgage Business the change was due to the increasing cost of credit– in particular for products with greater risk.

“The price of risk for stated and self-certified income loans is greater than for fully-verified,” the spokesperson said.

“Consequently we are having to pay more for funding on some products.”

Macquarie says that like all banks, it cannot give any guarantee on interest rate movements for products, especially given the current state of the market.

“We will continue to monitor market conditions,” the spokesperson said.

Published 14-03-08 

Written by Staff Reporter

Last Updated: 09 March 2022

Published: 14 March 2008