All eyes on RBA after bank rate hikes!
As announced in last 2 week, all BIG Four's are raising its variable mortgage rates between 15-20 basis points effective from November. This latest increase has caught mortgage customers by surprise especially as the pattern of interest rates is down and not up. Banks blamed the rate increase on the higher cost of new capital requirements, which will be introduced from 1 July 2016, that will cost banks possibly tens of millions in additional funding costs. The market is specu