50pt fixed rate rise at CBA as RBA fallout kicks in

'Steep increase' in funding costs sees another Big Four bank rates

50pt fixed rate rise at CBA as RBA fallout kicks in


By Mike Wood

CBA has become the next big lender to hike their fixed rates, adding a full 50 points to their 4-year fixed rates. It now stands at 2.89%, having been as low as 2.14% in March.

They added 40 points to their 3-year rate, taking it to 2.69%, and 25 points to their 2-year rate, raising it to 2.34%.

“Today we are announcing some changes to select fixed rate home loans,” said a CBA spokesperson.

“Our competitive home loan rates continue to provide value for customers who have access to industry-leading home loan features such as Home Loan Compassionate Care, Green loans and partnerships with innovative companies including energy retailer Amber and property management company :Different.”

“These changes reflect the steep increase in funding costs over the past few weeks as well as upgraded economic forecasts. These changes are effective 5 November 2021.”

“We encourage customers to speak with their CommBank lender or broker to see how we can get them into their home faster.”

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