Call: (07) 5527 4744

When will Interest Rates Stop Rising???

November 4, 2009 in Latest News, Rate Rises by admin  |  No Comments

30 minutes prior to the running of the Melbourne Cup the Reserve Bank of Australia announced an increase to the Official Interest Rate of 0.25% p.a.

Within 10 minutes ANZ announced it would be passing on the full rate increase to borrowers with CBA, NAB, Westpac and St George following suit soon after.

This increase in Interest Rate comes as no surprise to borrowers as all forms of the media has been warning of a 0.25% p.a. – 0.50% p.a. rise for several weeks.

The big question is …


Whilst many economists are hesitant to make a prediction at this time, one experience economist (Noel Whittaker) has stated that we should expect  interest rates to rise by up to 1.5% p.a. by the end of 2010.

Listed below are the Banks / Lenders who have already announced when they will be increasing their Variable Interest Rates.

BANK / LENDER:           RATE INCREASE:                    EFFECTIVE:

ANZ                                   0.25% p.a.                               9/11/2009

CBA                                   0.25% p.a.                               9/11/2009

NAB                                   0.25% p.a.                               6/11/2009

Westpac                              0.25% p.a.                               6/11/2009

St George                            0.25% p.a.                               6/11/2009

ING                                     0.25% p.a.                                         6/11/2009

AMP                                    0.25% p.a.                              7/11/2009

Bendigo                                0.25% p.a.                              9/11/2009

Macquarie                            0.25% p.a.                              6/11/2009

Heritage                                0.25% p.a.                             11/11/2009

Bank West                            0.25% p.a.                              6/11/2009

Bank of Qld                          0.25% p.a.                              6/11/2009

Homeside                              0.25% p.a.                              6/11/2009

Firstmac                                0.25% p.a.                              6/11/2009

Rams                                    0.25% p.a.                             10/11/2009

Citibank                                0.25% p.a.                             11/11/2009

Posted in Latest News, Rate Rises.