Interest Rates On The Move
NAB today has announced that it has increased its home loan interest rates for both owner occupied and investor customers of up to 25bp. This reflects what we have been saying for the past few months in terms of the difficulty that our four big banks are encountering with spiralling funding costs due to increased yields on fixed interest and bonds. Coupled with the restrictive regulations imposed on the big four banks in terms of their capital adequacy requirements has truly put the squeeze on them.
Our view is that if you are with a big bank you should consult with us in terms of looking at alternative options, including switching to a fixed rate or refinancing to another lender. As all lenders keep a very close eye on each other it is inevitable that CBA, ANZ and Westpac will shortly follow with an announcements of increases in the coming days.
#bigfour #interestrates #refinance #heartmortgageservices
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