Commonwealth Bank the Country's biggest lender is raising its variable by 10 basis points this coming Friday due to an increase in overall funding costs.
Makes you wonder if they will be alone.
Richard Taylor | Australia's leading private lender
Not alone but definitely the first.
The question now remains, did they cut their rates too much with all of the exuberance of the Reserve?
I'm sure the rest of us (sigh) will follow in some sort of way. But a piddling 10 points? It's all a ploy to take attention away from the fact that fixed rates have soared way up over the last 2 or 3 weeks with lenders – that you generally never hear much about in the media – try up to 80 points in 3 weeks on 3 yr rates with some!!!!!!
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