Bank Pass on December Interest Rate Cut… But When?

December 11, 2011 ANZ, BankWest, Commonwealth Bank, Home Loans, ING Direct, NAB, variable interest rate, Westpac by Administrator

We all know the news that all banks and smaller lenders have passed on the full 0.25% rate cut. The question is, when will they pass it on? As mentioned in an earlier post lenders are quick to pass on interest rate increases but slow to pass on interest rate decreases. Below is a table comparing
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ANZ, NAB, Westpac and Commonwealth Bank Pass on Full Rate Cut

December 8, 2011 ANZ, Commonwealth Bank, Home Loans, ING Direct, Interest Rates, NAB, variable interest rate, Westpac by Administrator

Yesterday saw ANZ to be the first of the big banks to pass on the full interest rate cut to its variable rate customers. Later that day NAB, ING Direct and Commonwealth Bank followed. Westpac waited until the evening to announce their intention. I expect all the second tier banks and other lenders to follow.
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Interest Rates Cut by another 0.25%

December 6, 2011 ANZ, Commercial Property Loans, Commonwealth Bank, Fixed Rates, Home Loans, Interest Rates, NAB, variable interest rate, Westpac by Administrator

The Reserve Bank of Australia cut interest rates from 4.50% to 4.25% today. This may seem to be an early Christmas present for mortgage holders but there are rumors that the banks will not pass on the full rate cut. So here we go again. Let us wait and see what ANZ, NAB, Westpac, Commonwealth Bank, ING
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Home Loan Interest Rates – Banks Slow to Pass On Cut

November 10, 2011 ANZ, BankWest, Commonwealth Bank, ING Direct, Interest Rates, Mortgage Broker, NAB, variable interest rate, Westpac by Administrator

Having been in the mortgage industry for just over 6 years I have seen home loan interest rates rise and fall. One of the most common observations is that banks are slower to pass on a rate cut compared to when interest rates rise. The table below shows that there is a 24 day difference between banks
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Fixed Rates to fall after RBA keeps interest rates on hold.

September 6, 2011 Commonwealth Bank, Fixed Rates, Interest Rates, Mortgage Broker, variable interest rate by Administrator

Interest rates remain on hold at 4.75% this month after the Reserve Bank of Australia made their decision yesterday afternoon. Later that day Commonwealth bank further reduced its 1 and 3 year fixed rates from the previous month. It looks like other lenders are to follow as the weeks go by. I will keep you
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Category: variable interest rate

Bank Pass on December Interest Rate Cut… But When?

ANZ, NAB, Westpac and Commonwealth Bank Pass on Full Rate Cut

Interest Rates Cut by another 0.25%

Home Loan Interest Rates – Banks Slow to Pass On Cut

Fixed Rates to fall after RBA keeps interest rates on hold.