CBA about to lift rates?

[moXJO]

Just got an email saying that cba about to lift rates?

I've just received an email advising that the CBA is about to increase
its fixed interest rates by up to 60 basis points (details below).

If you have a loan with the CBA and you want to fix it before the rate
increase then you must send a 'rate lock' notice to the CBA before 5pm
Saturday!

 

[jono1887]

I woudnt be surprised if they were going to... employees get told a few days before so if your friend works at the CBA, they would know. I'll give my friend who works at the CBA a call to see if its true

 

[YELNATS]

Just got an email saying that cba about to lift rates?

This seems to refer to fixed rate loans, not variable rate loans. Banks have been upping fixed rates for some months now, so much so now it's a marginal decision in terms of whether to fix or not.

Hopefully, they will be more sparing on any increases in variable rates.

 

[ajjack]

Any word about variation to the Cash Manag interest rates?

The current rate of 2.75% is way too low.

Incidentally, CBA announce latest results on 12 Aug.

 

[jono1887]

yep, rates for fixed term loans are definitely going up over the weekend.

 

[lianeisme]

CBA has already increased their rates I am a finance Broker I received the email from them this morning can’t remember the date it will be within the next week email on other computer.
At present they have increased fixed rates by an average of .60% to .80% depending on how many years you want to fix.
The rest will follow lets face it the big four now rule. Should have never been aloud to happen good on Kevin Rudd. There is no mention of variable rates as yet.

 

[knocker]

Well what do you expect? free money when the rest of the world is going down the gurgler lol where's robots and his merry band over at the housing thread? ducking for cover i daresay lol

 

[lianeisme]

OK I am on the right computer so here is the exact breakdown.
Change to Fixed Rates from Monday 10 August 2009

The Group is increasing its 1 Year Guaranteed Rate and 1 – 15 Year Fixed Rates. These interest rate changes are effective from Monday 10 August 2009. This rate increase is in response to the increasing cost of funds experienced over the past month.

The following rates will apply for new customers and existing customers switching into fixed rates, from Monday, 10 August 2009:



Product New Rate Change Assessment Rate Comparison Rate

Fixed Rates Home
Investment Home Loans

1 Year Guaranteed Rate 5.54% 0.15% 7.24% 5.85%

1 Year Fixed Rate
5.69% 0.30% 7.24% 5.87%

2 Year Fixed Rate
6.54% 0.60% 7.24% 6.03%

3 Year Fixed Rate
7.14% 0.45% 7.24% 6.27%

4 Year Fixed Rate
7.59% 0.60% 7.59% 6.55%

5 Year Fixed Rate
7.79% 0.45% 7.79% 6.79%

7 Year Fixed Rate
8.29% 0.50% 8.29% 7.37%

10 Year Fixed Rate
8.39% 0.30% 8.39% 7.85%

15 Year Fixed Rate
8.44% 0.25% 8.44% 8.32%

Fixed Rates Home/Investment Home Loans (MAV)

1 Year Fixed Rate
5.54% 0.30% 7.24% 5.72%

2 Year Fixed Rate
6.39% 0.60% 7.24% 5.87%

3 Year Fixed Rate
6.99% 0.45% 7.24% 6.09%

4 Year Fixed Rate
7.44% 0.60% 7.44% 6.36%

5 Year Fixed Rate
7.64% 0.45% 7.64% 6.59%

7 Year Fixed Rate
8.14% 0.50% 8.14% 7.14%

10 Year Fixed Rate
8.24% 0.30% 8.24% 7.60%

15 Year Fixed Rate
8.29% 0.25% 8.29% 8.05%


Rate Lock Applications
Where a customer has requested to 'rate lock' at the current rate, you must send the signed direct debit authority with the application to Mortgage Services by 5:00pm (local time) on Saturday 8 August 2009.

A Rate Lock fee of $750 is payable where the customer selects rate lock and the fee is not refundable if customer does not proceed with the application.

Switching
If an existing customer wants to switch their loan to one of the changing interest rates before the interest rate changes take effect, you must process the switching request by 5:00pm (local time) on Saturday 8 August 2009.
Nice we only received this yesterday afternoon.

 

[Julia]

What about deposit rates?

 

[Bill M]

What about deposit rates?

Rabo Bank has lifted their long term rates. Although a bit too long but now pays 7% for a 5 year term.

Link here

 

[jono1887]

What about deposit rates?

always the last to come up

 

[lianeisme]

Non existing customers must have 10% deposit serviceability has also been tightened quite dramatically
they are looking for vanilla clients only.
MAV package no longer available to lo doc over 60%

 

[moXJO]

ANZ turn now

I have just received word that ANZ will be increasing their fixed rates
effective from this Monday (17th).

However, if you want to lock in your rate before the rise you must act
before 5pm today (Friday 14th August) by contacting your mortgage
broker or bank manager.

ANZ Rate Increases
====================

ANZ Residential 1 Year Fixed Rate Home Loan & RIL
+ 0.10%

ANZ Residential 2 Year Fixed Rate Home Loan & RIL
+ 0.75%

ANZ Residential 3 Year Fixed Rate Home Loan & RIL
+0.65%

ANZ Residential 4 Year Fixed Rate Home Loan & RIL
+0.70%

ANZ Residential 5 Year Fixed Rate Home Loan & RIL
+0.55%

ANZ Residential 7 Year Fixed Rate Home Loan & RIL
- 0.10%

ANZ Residential 10 Year Fixed Rate Home Loan & RIL
- 0.20

 

[Trevor_S]

What about deposit rates?

Getting antsy over "soon to mature" term deposits ?

Longer term and you loose the gov't guarentee...

Crappy deposit rates are the go... what to do ... what to do ?

 

[Trevor_S]

Forgot to mention ubank.com.au (NAB subsidiary, personal deposits only unfortunately) seems about the best on call rate at the moment @ 5.1%