Interest Rates Steady – ANZ, NAB, CBA Westpac, ING, St George

Oct 7, 2014 ANZ, Commonwealth Bank, Home Loans, ING Direct, Interest Rates, NAB, St George, variable interest rate, Westpac by Administrator

The RBA announced this afternoon they have decided to leave the official RBA cash rate unchanged.

The variable interest rate has remained unchanged since August 2013 at 2.50%

Economists are predicting rates will rise next year as early as March with subsequent rises there after. I never pay too much attention to economists as they very often get it wrong as so many things can change between no and then.

We expect that lenders will therefore leave their variable interest rates unchanged as well, but will be monitoring in case of any changes outside of the official rate.

Even though variable interest rates are on hold for this month there are many fixed rate home loan and investment loan deals on the market.

Last month the major banks, ANZ, Commonwealth Bank, NAB and Westpac, had a fixed rate interest war and there are some very competitive rates available from all lenders.

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