Major banks set to follow
Wednesday January 9, 2008
Australia's leading banks are set to follow the lead set by the ANZ and the National by increasing their variable home loan mortgage rates.
The banks continually claim that the rising fees involved leave them no option but to raise home loan interest rates despite announcing record profits again last year.
The Commonwealth Bank of Australia, St George Bank and the Westpac have all said that their current variable home loan interest rates are under review.
The ANZ and the NAB have already announced interest rates rise ahead of any formal interest rate rise made by the Reserve Bank of Australia (RBA).
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