Banks and Lenders Increasing Variable Interest Rates

Banks and Lenders Increasing Variable Interest Rates

Following the big banks, many other lenders will start to increase their variable rate loans. We will keep you up to date on these changes.   Bank of Melbourne Variable Home Loan rates Effective Monday 8 May 2017 Bank of Melbourne will beincreasing the below variable rates. Owner Occupier Principal & Interest Home Loan variable
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ANZ and Commonwealth Bank Follow NAB and Westpac

Both ANZ Bank and Commonwealth Bank have followed NAB and Westpac to increase their variable rate loans. They cite regulatory pressure and funding costs to be the main reason for these interest rate increases ANZ have made the following changes effective 31st March 2017; Owner occupies who pay principle and interest on their home loans
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Westpac Bank Follow NAB and Increase Variable Interest Rates

Similar to NAB, Westac have announced today that they will increase its variable interest rates for its home and investor loans effective from Friday 24th March. Variable interest rates for owner occupier home loans will increase by 0.03%. Variable interest rates for interest only home loans and business rate loans will increase by 0.08%. Interest rates for residential investment
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Variable Interest Rates On Hold For March

……….. 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
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February Variable Interest Rates Remain at 1.50%

……….. Today’s February 6th 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 next few months. Banks and other lenders are continually reviewing their variable and fixed interest rates and we will keep you updated on any changes
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