All Major Banks and Lenders Lift Rates
Saturday January 12, 2008
The Westpac and St George have raised their home loan interest rates joining the ANZ, NAB and Commonwealth Banks in charging a higher home loan interest rate than the official rate set by the Reserve Bank.
All five major banks increased their mortgage rates by between 0.10 to 0.2 percent.
The five major banks aren't the only ones who have lifted their rates. Bendigo Bank and Wizard Home Loans also lifted their rates last week as the ramifications of the world wide credit crunch and shareholder responsibilities take their toll on the banks profit margin.
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