Category: BankWest

RBA Hold Interest Rates while Banks Hike Them

UPDATE: ING DIRECT will increase variable interest rates on all residential loan products by 0.18% p.a. effective from 15 January 2016.  At yesterdays’s board meeting the Reserve Bank decided to leave the cash rate unchanged at the current low of 2.00%. However, over the last few weeks the major banks and other lenders have been busy
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NAB Increase Interest Rates by 0.17%

  NAB have announced that they will be increasing their variable interest rates by 0.17% effective 12th November 2015. Following Westpacs and Commonwealth Banks move to increase variable interest rates they too cited that they are  partially offsetting costs associated with recent changes to capital requirements. We also expect ANZ to follow in the coming days.
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Interest Rates Drop by 0.25% – Commonwealth Bank, ANZ, NAB,Westpac, ING

The Reserve Bank of Australia (RBA) announced that it will move the official cash rate from 2.25% to a new record low of 2%. In a close call among economists,  the RBA drop rates to stimulate the Australian economy and to put downward pressure on the Australian dollar. It is expected that Australia’s  home loan
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Interest Rates Down 0.25% – ANZ Commonwealth, NAB, ING, Westpac

  BREAKING NEWS:  ANZ for the last 2 years have broken their Friday interest rate review protocol and announced that they will reduce their variable interest rates by 0.25% effective February 12th NAB also reduced rates today by 0.25% Westpac slashes beyond rate cut by 0.28% effective 20th February 2015. RAMS, St George and Bank of Melbourne may do the same. UPDATE: Commonwealth Bank first major to reduce their standard variable rate by 0.25%, effective 20th February 2015 The RBA announced this afternoon they have reduced the official cash rate by 0.25%. It has been 18 months since interest rate have moved  and they are the lowest in 60 years. We expect that lenders will announce their response over the coming days and we will keep you updated below. If you have any questions feel free to contact us. Below shows how much each lender passes on their home loan rates. Interest rates will be updated on our main website once each lender passes on the reduction.
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Interest Rates Down Today by 0.25% – ANZ, Westpac, NAB, CBA, ING, Suncorp

UPDATE: NAB, Commonwealth Bank,  BOQ  and ING Direct drop home loan rates by 0.25%, Westpac by 0.28% The Reserve Bank of Australia announced a 0.25% official cut to interest rates, down to 2.50%. The lowest in Australia’s history. Although this is welcome news for variable interest rate home loan and other mortgage holders; however, it
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Variable Interest Rates Down By 0.25% – ANZ CBA NAB Westpac ING Suncorp Banks

UPDATE 2 – 7/5/13 @ 5:20 pm: Commonwealth Bank and Westpac will also reduce their variable mortgage rates by 0.25%. We will have to wait until Friday for ANZs decision. I expect St George Bank, Bank of Melbourne, Bank SA and RAMS all to follow their owner Westpac. Check below for more changes. UPDATE 7/5/13
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