Macquarie is the fourteenth lender to raise rates

Macquarie Bank Mortgage Solutions wrote to customers yesterday, letting them know that its variable mortgage rate would go up 10 basis points on February 20. Macquarie’s rate will rise to 7.4 per cent.

Other lenders to raise mortgage rates this week are ANZ, Westpac (and its subsidiaries, St George Bank, Bank SA and Bank of Melbourne), Commonwealth Bank (and its subsidiary, Bankwest), National Australia Bank (and its online division, UBank), ING Direct, Bendigo and Adelaide Bank, and Greater Building Society.

While most lenders increased their rates by 10 basis points, Bendigo and Adelaide made the biggest move – up 15 basis points – followed by St George, which hiked its rate up by 12 basis points.

Source: Banking Day

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