More SVR action
Greater Building Society was the only mortgage lender to move on variable mortgage interest rates yesterday, announcing that its standard variable home-loan rate would go up 10 basis points to 6.9 per cent.Comparison website RateCity has calculated that the average increase in variable rates since Friday has been 10 basis points.Commonwealth Bank increased the rate on its standard variable home loan by 10 basis points to 7.41 per cent.NAB (along with Homeside and UBank) increased the rate on its standard variable home loan by nine basis points to 7.31 per cent.Bendigo and Adelaide Bank increased its rate by 15 basis points to 7.45 per cent. ANZ increased its rate by six basis points to 7.36 per cent.Westpac increased its rate by 10 basis points to 7.46 per cent.CUA yesterday joined Bank of Queensland and ME Bank in committing not to increase variable home-loan rates.