ANZ increase rate by 0.18

Posted Friday, 23 October 2015 at 15:25 by Shape Home Loans
Tagged: Loan for investment | APRA lending laws | Loan for owners occupier | Loan for investor | Home Buyer | home loans | interest rates | news
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ANZ lncrease the rate by 0.18% as of 20 November 2015

ANZ is the last big 4 bank to increase the rate following the increase by Westpac of 0.20%, CBA of 0.15% and NAB of 0.17%, nothing to be proud of.

ANZ CEO Australia Mark Whelan said the decision reflects the significant additional cost of capital banks are now required to hold against home lending. “Despite these additional costs, we are committed to working hard to keep lending rates as low as possible for customers and we’re pleased to have been able to maintain the lowest standard rate of the major banks for owner occupiers,” Mr Whelan said. The 18 basis point increase will add $67 per month to the average home loan of $450,000.

It's interesting to note some of the credit unions and smaller banks are reducing their rate with special offers, interesting times.

Click here for a list of the top 21 banks and their rate decision for October and November 2015.