Daily Telegraph: Major banks have raised mortgage interest rates

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       Sydney Today, March 3, Australian Eastern Time, just a few days after the central bank announced that it would maintain the original interest rate unchanged, New Bank of Australia, one of the four major home mortgage banks, has announced an increase in loan interest rates.

       Suncorp followed suit and raised interest rates today; a few hours after the central bank announced the interest rate decision, the Bank of Queensland also decided to raise its lending rates. The major banks are getting rid of the central bank, and signs of independent action have become more and more obvious. ANZ Bank will increase its three-year fixed loan interest rate. The three-year period is also the choice of most loan buyers. ANZ Bank decided to raise interest rates by 20 Basis points, reaching 6.34%.

       But what is puzzling is that at its review meeting last month, ANZ lowered its three-year packaged rate by 15 basis points to 5.99%. Suncorp Bank decided today to increase its 2-year fixed mortgage interest rate by 16 basis points to 6.14%. This is the second consecutive month that the central bank has set the interest rate at 4.25% to ensure economic stability, which is also the highest among developed countries. However, 45 financial institutions raised their lending interest rates last month. Obviously, many financial institutions did not take the central bank's fixed interest rate as a matter at all. Next week, several banks will raise lending rates. There must be many such financial institutions.

Original: http://www.dailytelegraph.com.au/business/anz-raises-fixed-home-loan-rates/story-fn7ki14e-1226294806310

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