CBA keeps hiking interest rates

CBA keeps hiking interest rates

CBA keeps hiking interest rates Commonwealth Bank of Australia has increased fixed mortgage rates for the third time in six weeks, as banks try to recoup higher funding costs and doubts grow that the Reserve Bank will keep rates on hold until 2024. Commonwealth Bank on Friday increased fixed home loan rates by up to 0.30 of a percentage point, in the latest effort by the nation’s largest home lender to overcome a squeeze on loan profits. Variable home loan rates are now typically cheaper than most fixed rates and the days of super-cheap sub-2 per cent fixed rate home loans are coming to an end among the country’s major lenders. The increase in fixed mortgage rates in recent weeks occurred despite the Reserve Bank of Australia guiding that the …
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