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Originally Posted by RMJH
Ah, I think you are not comparing to 1.5! The rate reductions are much less... but shows how much times have changed since launch
Unfortunately, he IS comparing to 1.5 and it is that drastic!!
Worst still, the default rate is up for C4 to E5. For example under 1.5, E2 interest rate is 27.49% and annual chance of default is 3.73%. Under 1.6, E1 interest is now 22.49%, a drop of 5% while the annual default has gone up to 5.56%.
So we are being hit both ways! RAR will definitely drop. But with Reserve bank interest rate approaching zero, it is rather expected.
Regards
CB
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