Monday, December 12, 2016

Trading pit for home loans

Fintech: In less than 12 weeks in business, online mortgage platform Joust has had over more than “high-quality South Australian consumers joust $118 million of prime, owner-occupier, variable rate home loans”, according to the company’s founder and managing director, Mark Bevan.
“In an increasingly competitive home loan market, our lenders are extremely keen for this type of business,” Mr Bevan said.
“About 90 per cent of the volume during the 12 weeks has been for refinance of existing loans, but with increasing brand awareness we expect to see more new home buyers using the Joust platform for new home loans.”
Joust is a free tool that involves lenders bidding (jousting) for home loans in real time, allowing customers to watch as lenders drive down each other’s rates within a specific time frame.
Emphasis mine.  Price elasticity makes all the difference and we need that for Bitcoin. The easiest method was my suggestion, add a trading pit that compresses pricing for block chain services.  Start there, go back and look at my proposal, somewhere on this blog.

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