CBA has lifted its fixed mortgage rates by a huge 1.4 per cent, and other banks are expected to follow.
The Commonwealth Bank of Australia has increased its fixed mortgage rates by a huge 1.4 per cent, just days before the next Reserve Bank board meeting.The bank has lifted fixed mortgage rates by a large 1.4 per cent for one- to five-year loansFixed mortgage rates for owner-occupiers and investors, for one- to five-year loans, have all been pushed higher.
RateCity.com.au research director Sally Tindall the size of the rate hikes are unlike anything she has seen from the CBA."We haven’t seen one-off hikes of this size and scale from [the] CBA in our records," Ms Tindall said on Thursday.
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