Australia's CBA Looks To Fill Mortgage Gaps - 2004-03-18
As demand for home loans drops with rising interest rates, Commonwealth Bank of Australia hopes to fill part of the gap by encouraging parents to support their children in getting a mortgage.
Hugh Harley, CBA's chief of retail banking, told Dow Jones Newswires Wednesday that the company's research indicates that careers, money and luxury goods are no longer the benchmark of success for parents, who instead want to ensure their children's financial security.
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