PETALING JAYA: The Association of Banks in Malaysia (ABM) has refuted there was a price war brewing in the pricing of mortgage rates.
Responding to an English daily quoting research house HwangDBS Vickers as saying that banks had agreed to end the mortgage price war, among others, by standardising rates, ABM said: “There cannot be standardisation of mortgage rates by the banks. Interest rates for housing or mortgage loans are to be determined by the individual banks in line with their funding cost, business strategies or business model.
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