Fixed Rates are Rising

Commonwealth Bank (CBA) is the latest lender to increase its long-term fixed interest rates, in a sign that more rate rises could be one the way.

With the RBA yet to indicate whether they will be bringing their own interest rate rises forward, CBA has gone ahead and increased some of their products by 0.05% and 0.1% for both owner-occupied principal and interest, three and four-year fixed rates and its interest-only three and five-year fixed-rate mortgages.

CBA’s move to increase fixed interest rates follows recent increases by National Australia Bank (NAB) and Westpac Bank, leaving only ANZ, which hasn’t hiked interest rates yet