CBA has become the next big lender to hike their fixed rates, adding a full 50 points to their 4-year fixed rates. It now stands at 2.89%, having been as low as 2.14% in March.
They added 40 points to their 3-year rate, taking it to 2.69%, and 25 points to their 2-year rate, raising it to 2.34%.
“Today we are announcing some changes to select fixed rate home loans,” said a CBA spokesperson.
“Our competitive home loan rates continue to provide value for customers who have access to industry-leading home loan features such as Home Loan Compassionate Care, Green loans and partnerships with innovative companies including energy retailer Amber and property management company :Different.”
“These changes reflect the steep increase in funding costs over the past few weeks as well as upgraded economic forecasts. These changes are effective 5 November 2021.”
“We encourage customers to speak with their CommBank lender or broker to see how we can get them into their home faster.”
