Fixed rate rise

[Bushy]

Heard a rumour ANZ is raising its fixed rates again very soon after they went up a week ago. Will the other big 3 follow and is it time to lock in or is it just to help their profits.
Bushy

 

[Welcome]

I think the CBA put their fixed ones up 0.1% within the last week.

Their current fixed rate for 1-4 years is 8.34%. I think variable sounds more appealing then that!

 

[alexlee]

The fixed rate is much more driven by world markets than the variable rate (which is more closely related to the RBA official rate). The only reason the other banks would NOT follow suit is for market share.
Alex

 

[dantheman]

Heard a rumour ANZ is raising its fixed rates again very soon after they went up a week ago. Will the other big 3 follow and is it time to lock in or is it just to help their profits.
Bushy

Yep ANZ are raising their fixed rates on Monday. If you're with ANZ and want to lock in the pre-rise rate you have to do it before 5pm Friday.

The other lenders have some cheaper rates even after raising, and theres still some good bank deals for discounted 2 year fixed rates to get people in - of course only for new customers though...

Dan

 

[Rolf Latham]

Hiya

Profit maintenance rather than gouging I feel.

Swap rate markets are going up and up and this is where the banks "buy" their fixed rate money...

ta
rolf