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12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
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69.38%
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67.09%
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Big four in holding pattern on rate hikes

By Staff Reporter
08 October 2009 | 1 minute read

While the ‘big four’ banks have held off raising interest rates, federal treasurer Wayne Swan has warned against lifting rate’s by more than the Reserve Bank of Australia’s 0.25 percentage point rise.

"I've made it very clear [that] the government expects the banks to behave in the way in which they should behave and the way in which they've traditionally behaved – that is, that they will pass on the official cash rate increase and no more," Mr Swan told reporters in Brisbane yesterday.

Analysts predict all lenders will move fast once one of the major banks break rank and push up mortgage rates.

“No one wants to be the first to move, and regional players certainly won’t because they aren’t price leaders,” Southern Cross Equities analyst T.S Lim told today’s The Australian financial Review.

The Commonwealth Bank of Australia (CBA) and the National Australia Bank (NAB) both have a standard variable rate of 5.74 per cent, the lowest of the big four banks.

Australian and New Zealand Banking Group (ANZ) and number two home loan lender Westpac’s rates are at 5.81 per cent.

Big four in holding pattern on rate hikes
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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