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Westpac and CBA have tightened their grip on the national mortgage book by taking more than 85 per cent of the banking sector's new mortgage lending during the June quarter, a report from Core Data has found.
CBA / Bankwest and Westpac / St George accounted for $30.3 billion of the nation’s $35.6 billion mortgage growth.
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Westpac / St George had the fastest growing mortgage book, with $15.2 billion in new mortgage lending while CBA / Bankwest grew by $15.1 billion during the June quarter.
Westpac / St George was also the most aggressive mover for the quarter, almost doubling its $7.7 billion growth figure recorded in the March quarter.
