One Australia’s biggest banks has lifted its mortgage rates one day after the Reserve Bank of Australia hiked the cash rate to 4.35 per cent, the first big bank to follow suit.
The mortgage pain is starting to ramp up again with one of Australia’s biggest banks lifting its rates following Tuesday’s RBA hike.
The bank currently offers five-year loans for owner-occupiers at 6.04 per cent per annum, principal and interest.Bendigo and Adelaide, a $5.2bn enterprise, is the first to raise its rates in response to the RBA’s Melbourne Cup day increase.
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