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The big four banks have raised fixed mortgage rates on the back of increased funding costs.
National Australia Bank (NAB) yesterday became the last of the big four banks to raise fixed mortgage rates, with the one-year fixed rate up 50 basis points to 6.59 per cent, and its two-year fixed rate up 40 basis points to 7.29 per cent.
NAB’s three-year fixed rate increased 40 basis points to 7.59 per cent.
Westpac, CBA and ANZ have also raised their fixed mortgage rates in recent weeks.
CBA was first off the mark a week ago, citing funding costs as ...
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Categories: Home Loans and Mortgages, Interest Rates. Tags: Fixed Loan Rates, Fixed Mortgage Rates, Fixed Rate Home Loan, Mortgage Rates.
The Commonwealth Bank of Australia has today announced that it will increase its fixed mortgage rates after similar moves in August and April this year.
Speculation is rife that the RBA will increase the official cash rate sooner rather than later, with some pundits tipping a rate rise this October.
CBA’s one year fixed rate will now sit at 6.19 per cent after a 50 basis point increase, while its two year fixed rate will sit at 6.84 per cent - up 30 basis point rise.
The three year fixed rate mortgage has increased by 15 basis points to 7.29 per ...
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Categories: Home Loans and Mortgages. Tags: Fixed Mortgage Rates, Fixed Rate Home Loan, Fixed Rates Mortgage.
Westpac announced on Saturday that it is raising its fixed home loan rates.
From Tuesday, the bank's one year fixed mortgage rates will go up 10 basis points to 5.59 per cent.
Two and three year fixed home loan rates will rise by 40 basis points to 6.39 per cent and 6.99 per cent respectively.
The five-year mortgage rate will also go up 45 basis points to 7.64 per cent.
The bank said it had been forced to raise its fixed mortgage rates because of the rising cost of funding.
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Categories: Home Loans and Mortgages, Interest Rates. Tags: Fixed Home Loan Rates, Fixed Mortgage Rates.
