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AAP
AAP
National
Poppy Johnston

RBA urges mortgage holders to hunt down better deals

RBA Brad Jones Reserve Bank Michele Bullock Philip Lowe Phillip Lowe
RBA head Phillip Lowe says record refinancing is forcing banks to discount mortgage rates. (Bianca De Marchi/AAP PHOTOS) (AAP)

The Reserve Bank has urged borrowers and savers to keep hunting down better deals to put pressure on banks to offer competitive rates.

RBA governor Philip Lowe said he was concerned banks were not passing on higher interest rates to deposit accounts as fast as they were hiking rates on mortgages.

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