深圳桑拿网,深圳上门按摩论坛

Powered by 0531dayin!

St George joins rate hikers

St George Bank has followed the other big banks in Australia by raising its interest rates on fixed home loans.

南宁桑拿

The bank which was recently amalgamated with Westpac increased the interest rates on its three, four and five year fixed mortgages by 50 basis points yesterday.

Three-year fixed home loans now stand at 6.49 per cent, while both four and five year loans will cost new customers 7.14 per cent in interest per annum.

There was a smaller increase on one-year fixed mortgages which were raised by 10 basis points to 5.44 per cent.

Two-year fixed mortgages were increased by 20 basis points to 5.94 per cent.

Commonwealth leads rate increases

Banks attracted criticism for the rates rise made this week after the Commonwealth Bank (CBA) announced it would increase interest rates on a range of products last Friday.

The CBA blamed the high costs of term funding for increasing its standard variable and fixed home loans by 10 basis points on Monday.

National Australia Bank (NAB) also hiked its rates on Monday for a range of fixed home loans by as much as 40 basis points, taking their fixed rates to between 5.09 per cent for a one-year loan to 7.79 per cent for a 10 year term.

NAB spokeswoman Luisa Ford says the bank has raised rates on three-year fixed home loans by 120 basis points since April 14, and by 110 basis points on five-year fixed mortgages since May 18.

NAB, CBA and Westpac all raised rates on fixed mortgages in April, with ANZ moving earlier.

Ms Ford says fixed rates are determined by the fixed wholesale funding market which has been “moving very quickly over recent months”.

But NAB has no plans to raise interest rates on standard variable mortgages, she says.

Westpac follows suit

Westpac Banking Corporation on Tuesday raised rates on fixed home loans by up to 50 basis points.

Westpac’s one-year fixed mortgage rate was lifted 10 basis points to 5.49 per cent, its two-year fixed mortgage rate increased by 20 basis points to 5.99 per cent, and all other rates on terms up to 12 years were hiked by 50 basis points.

A 10-year fixed home loan from Westpac will now cost new customers 7.79 per cent in interest per annum.

ANZ Banking Group spokeswoman Cherelle Murphy says its fixed and variable interest rates on loans in any category are under review, but the bank currently has no specific plans to change them.

ANZ’s rates stand at 5.35 per cent for a one-year fixed home loan, 6.34 per cent for a three-year term, and 9.39 per cent for a 10-year term.

Standard variable rates on mortgages from the major lenders currently stand at 5.74 per cent from NAB and CBA, 5.7 per cent from BankWest, 5.79 per cent from St George, and 5.81 per cent from Westpac and ANZ.

Comments are currently closed.