St George raises mortgage rates

St George has lifted its standard variable mortgage rate to pole position. St George raised rates by another 10 basis points taking it to 9.47%. Many financial analysts are surprised by the move as it takes it well outside the competitive bracket of the other major banks. Last week Westpac raised its rates bringing them in line with the other majors. Westpac’s standard variable home loan rate is 9.37.

Source: The Australian