ANZ joins rivals to raise standard variable home loan rate

Posted by Simon Dehne on October 28, 2015 in Latest News with No Comments

ANZANZ has joined its rivals in raising interest rates for home owners to help cover the costs of boosting their protection against potential economic shocks.

The bank will raise its standard variable interest rates for owner-occupiers and investors by 0.18 percentage points to 5.56%.

The bank said it faced significant additional costs due to the new levels of capital required to be held against home loans, and its rate rise would add $36 to monthly repayments on the average loan.

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