The Commonwealth Bank yesterday announced a rise in its variable home loan interest rate of 0.10 per cent to 8.67 per cent.
The November spike in home approvals may not reflect the true position of the market, the Australian Financial Review reported today.
ANZ’s rate rise will not impact its share of the mortgage market, CEO Michael Smith told reporters in Malaysia, according to The Sydney Morning Herald.
ANZ attributed higher wholesale interest rates to its decision to increase standard variable home loan rates yesterday.
Credit unions are likely to follow the lead of the major banks by raising interest rates on standard variable mortgages, reports The Advertiser.
Westpac Banking Corporation completed its acquisition of the RAMS franchise distribution business on Friday.
4,429,000 – number of baby boomers in the Australian workforce
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