ANZ announced late this afternoon that they will be increasing their variable home loan mortgage rates by 0.06%. ANZ claimed higher funding costs as a result for the increase. This will add approximately $100 a year to a $300,000 home loan. Typically the other banks have followed when one lender increases interest rates. We will Read More
In an ongoing trend in the last month we have seen fixed rates increase from their lows. The ANZ bank today announced that they will increase their fixed interest rates. We are also aware that most other lenders will follow as the cost of fixed rates increases. We suggest that is you are looking at obtaining Read More
ANZ today announced that they are not increasing their variable home loan and commercial loan interest rates after their monthly review. It will be interesting to see what the other lenders do. I feel that they too will keep interest rates steady in fear of media backlash. As always we will keep you updated.
Yesterday afternoon Bank of Queensland (BOQ) raised their variable interest rates by 0.10%. This was a passing note in the news and there was no politician or media backlash against the move. It seems the major banks are an easy target. That being said rate increases from any lender is a kick in the face Read More
Today the RBA left interest rates at 4.25% but there are some murmurings that the major banks are going to lift rates again. It will be interesting to see who pulls the trigger first. ANZ took the brunt of the criticism last month when they announced the increase before all others. However, they increased their variable rate Read More
Late Friday afternoon Westpac Bank increased its standard variable rate loans by 0.10% following ANZs increase of 0.06% We are now waiting for NAB and Commonwealth Bank to make their decision. We will keep you updated. If you are tired of the major banks increasing interet rates please speak to one of our mortgage brokers Read More