One bank is raising home loan rates for investors
ANZ Bank announced yesterday that from 10 August 2015 the variable rate on its Residential Investment Property Loan would rise by 0.27 percentage points to 5.65 per cent.
Fixed rates will rise by 0.30 percentage points, with the three-year rate rising to 5.14 per cent and the five-year rate to 5.04 per cent.
The variable rate on an owner-occupied mortgage will not change. ANZ Bank’s property investment loan book has been growing at a faster rate than permitted by the banking regulator.
Source: Banking Day