Rates Unchanged at 1.50%

 

Today’s April 4th 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. Although owners saw very little movement, we saw up to 0.25% increases for interest only loans and property investment loans. This is an attempt to slow down the housing boom by making it more expensive for property investors to make future purchases.

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.

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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 rates by 0.03% to 5.25% per annum (comparison rate 5.42% per annum*)
  • Residential Investment Principal & Interest Home Loan variable rates by 0.31% to 5.78% per annum (comparison rate 5.95% per annum*)
  • Owner Occupier Interest Only Home Loan variable rates by 0.11% to 5.45% per annum (comparison rate 5.62% per annum*)
  • Residential Investment Interest Only Home Loan variable rates by 0.39% to 5.98% per annum (comparison rate 6.15% per annum*)
  • Portfolio loan variable rate by 0.39% to 6.10% per annum

St George Variable Home Loan rates

  • Variable home loan (owner occupier) rate will remain unchanged at 5.30% per annum for customers with principal and interest repayments;
  • Variable home loan (owner occupier) will increaseby 0.08% to 5.50% per annum for customers with interest only repayments1;
  • Variable residential investment property loan rate will increase by 0.23% to 5.78% per annum for customers with principal and interest repayments;
  • Variable residential investment property loan rate will increase by 0.31% to 5.98% per annum for customers with interest only repayments;

AMP Variable Home Loan rates

Effective 3 April 2017, variable interest rates for interest-only loans for existing customers will increase by 15 basis points for owner-occupied loans and 28 basis points for investment loans.

In addition, effective 31 March 2017 for new customers and 3 April 2017 for existing customers, owner occupied principal and interest variable rate loans will increase by 7 basis points. As a result, the AMP Bank Professional Pack owner occupied variable rate loan will increase to 3.92% p.a. for new customers for loans of $750,000 and above.

Adelaide Bank and Bendigo Bank Variable Home Loan rates

Bendigo Bank and Adelaide Bank decided to increase its residential investment variable interest rate by 0.25% p.a. to 6.01% p.a. Standard residential variable mortgage rates for owner-occupiers remain unchanged at 5.48% p.a. The change is effective as of 31 March 2017 for new and existing loans. A further decision was made to adjust the LVR cap on residential investor loans to 80% effective 27 March 2017.

will be increasing variable interest rates for investment loans (both existing and new customers) by 0.25% p.a. effective from 4 April 2017

ING Direct Increase Investment Variable Home Loan rates

ING Direct will be increasing variable interest rates for investment loans (both existing and new customers) by 0.25% p.a. effective from 4 April 2017

 

If you have any questions about this announcement 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.

compare home laons

 

 

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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;

  1. Owner occupies who pay principle and interest on their home loans – no change
  2. Standard Variable investment loans and Equity Manager loans increase by 0.25%
  3. Interest only loans for Standard Variable and Simplicity Plus  loans for owner occupied loans and investors increase by 0.20%
  4. Business loans increase by 0.08%

Commonwealth Bank have made the following changes to variable rate loans effective 8th May 2017:

  1. Owner Occupied home loans that pay Principal and Interest (P&I)  for Variable Rate Home Loans will increase by 0.03%  
  2. Investment home loans that pay Principal and Interest (P&I)  for Variable Rate Home Loans will increase by 0.24% 
  3. Interest Only interest rates for all Variable Rate Owner Occupied home loans by 0.25% and Investment Home Loans by 0.26%
  4. Viridian Line of Credit (VLOC) interest rates will increase by 0.26%  for both investment and personal purposes.

We expect other second tear banks and smaller lenders to follow and we will keep you up to date with any changes.

If you have any questions about this announcement 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.

compare home laons

 

 

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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 loans will increase by 0.23% for principle and interest repayments and for interest only loans will increase by 0.28%.

We expect other lenders to follow and we will keep you up to date with any changes.

If you have any questions about this announcement 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.

compare home laons

 

 

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NAB Increases Variable Interest Rates

Today NAB have announced that it 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 and business rate loans will increase by 0.07%.

Interest rates for residential investment loans will increase by 0.25%.

We expect other lenders to follow and we will keep you up to date with any changes.

If you have any questions about this announcement 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.

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Variable Interest Rates On Hold For March

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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.

compare home laons

 

 

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