CBA raises rates on fixed rate mortgages by 20 to 45bps
20 Apr 2009 5:36 PM
The Commonwealth Bank says it'll raise its interest rates on fixed rate mortgages by between 20 basis points and 45 basis points from tomorrow.
The bank says it's had to raise its rates due to recent increases in the wholesale market swap rates .. from which it funds fixed rate home loans.
Rates on CBA's four-year fixed rate home loans will rise by 20 basis points to 6.59 per cent .. while seven-year home loans will increase by 25 basis points to 7.24 per cent.
A rise of 40 basis points will apply to loans with two .. 10 and 15-year terms .. while three-year home loans will jump by 44 basis points .. and five-year term loans by 45 basis points.
