Major bank lifts rate .45pc
finance-advice

Major bank lifts rate .45pc

Major bank lifts rate .45pc

by webmaster | November 02, 2010

Borrowers should brace themselves for a rise in mortgage rates following the shock move by the Reserve Bank of Australia (RBA) to lift the cash rate by 25 basis points to 4.75 per cent today.

by webmaster

T

he Commonwealth Bank is the first of the majors to announce its move, lifting its standard variable rate by 45 basis points – 20 basis points more than the RBA.

All of the major banks have warned borrowers to expect higher interest rates in recent weeks, regardless of the RBA’s official changes as a result of increasing funding pressures.

share the article

Subscribe to get the latest news and updates - join a community of over 80,000 property investors.

Check this box to receive podcast updates

From the web