In a move not seen from a lender for some time, Adelaide Bank has increased some of its variable mortgage rates.
According to a Canstar report, the bank’s rate for owner occupiers paying principal and interest, with a loan to valuation ratio up to 90 per cent, has increased 15 basis points.
The rate for investors paying P&I and with LVRs up to 90 per cent was increased by 20 bps and the rate for investors paying interest only and with LVRs up to 80 per cent was increased by 10 bps.
A number of lenders have increased fixed rates in recent weeks. In March, five lenders increased their mortgage rates for four and five-year terms. They are Aussie Home Loans, Bank of Queensland, Bendigo Bank, Commonwealth Bank and Teachers Mutual Bank.