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NewsCommonwealth Bank moves on interest rate hike: First major...

Commonwealth Bank moves on interest rate hike: First major bank lifts mortgage rates after RBA hike

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Commonwealth Bank moves on interest rate hike: First major bank lifts mortgage rates after RBA hike

  •  Commonwealth Bank has raised its variable rates by half a percentage point

The Commonwealth Bank has become Australia’s first major lender to lift its variable rates by half a percentage point to reflect the Reserve Bank’s latest move. 

CBA, Australia’s biggest home lender, announced the 0.5 percentage point increase in its home lending rates on Wednesday morning.

This increase for home borrowers was confirmed 20 hours after the RBA raised the cash rate by 50 basis points to a three-year high of 1.35 per cent. 

The Commonwealth Bank’s changes come into effect on July 15. 

The Commonwealth Bank has become Australia's first major lender to lift its variable rates by half a percentage point to reflect the Reserve Bank's latest move

The Commonwealth Bank has become Australia’s first major lender to lift its variable rates by half a percentage point to reflect the Reserve Bank’s latest move

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