Lenders lifted rates 0.22% more than RBA since July

Comments
Rating Unrated (0)

EMAIL
PRINT
RSS
SHARE
TEXT SIZE: A A A

22 March 2010 @ 02:00 pm AEST

A look at more than 200 standard variable mortgages has shown that home loans have risen, on average, 1.22% since July – 22 basis points more than the RBA’s 1% increase in the cash rate.

The research, conducted by financial comparison site RateCity, found that the average standard variable rate mortgage sat at 2.31% above the RBA’s cash rate of 3.75% in February.

Over the past two years the gap between the cash rate and the standard variable mortgage rate was just 1.75%.

The RBA’s cash rate now sits at 4% after the 25 basis point rise on March 2.

Broker News - Mortgage and finance industry updates for the mortgage broker professional. This article is copyright of brokernews.com.au

Click!