Today’s March 7th meeting of the Reserve Bank of Australia (RBA) has announced to keep the cash rate on hold at 1.5%. We expect this to remain stable for the remainder of the year.
In the last months we have seen a number of lenders increasing some of their variable rate products. We have seen increases in interest only loans and property investment loans for new and existing borrowers. This is an attempt to slow down the housing boom by making it more expensive for property investors to make future purchases. However, money is so cheap at the moment that even the small rate rises is having very little effect.
Banks and other lenders are continually reviewing their variable and fixed interest rates and we will keep you updated on any changes that may occur in the next month.
INTEREST RATE ANNOUNCEMENTS
No changes reported.
|Current Bank Interest Rates||Rate Cut and Date|
|Adelaide Bank / Bendigo Bank||No Change Announced|
|AMP||No Change Announced|
|ANZ||No Change Announced|
|Bank of Melbourne||No Change Announced|
|Bank of Queensland||No Change Announced|
|BankWest||No Change Announced|
|Citibank||No Change Announced|
|Commonwealth Bank||No Change Announced|
|ING Direct Bank||No Change Announced|
|ME Bank||No Change Announced|
|Heritage Bank||No Change Announced|
|NAB||No Change Announced|
|St George Bank||No Change Announced|
|Suncorp Bank||No Change Announced|
|Westpac||No Change Announced|
If you have any questions about the announcement or interest rates, please feel free to contact us.
To view and compare current home loan and investment loans click the link below.
If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.