Home loan rate rises not important says RBA

Reserve Bank governor Glenn Stevens has played down the significance of recent rate rises and said the big lenders are effectively taking back some of the rate cuts from earlier in the year.

“The actions of banks that have lifted mortgage rates over recent weeks reverse a little under half of this year's decline for floating rate mortgages for owner-occupiers,” said Stevens.

“This increase is from the lowest rates that any current borrower will have ever seen.”

Source: Mortgage Business

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