Commonwealth Bank of Australia (CBA) is once again lifting mortgage rates for investor and interest-only loans as lenders continue to tweak their pricing to stay in line with the latest regulatory restrictions.
The following changes went into effect Friday:
Fixed rates for owner-occupier home loan customers making interest-only repayments are increasing by 25 basis points
Fixed rates for investment home loan customers making interest-only repayments will increase by 50 basis points for between two- to five-year terms
One-year fixed rates for investment home loan customers seeking to make interest-only repayments will increase by 25 basis points
Two- to five-year fixed rates for investment home loan customers making principal and interest repayments will increase by 25 basis points
Home loan customers who already have a fixed-rate loan will be unaffected by these changes.
“Commonwealth Bank is increasing home loan fixed interest rates for investment home loans and interest-only customers to ensure we continue to meet our regulatory requirements,” the bank said in a statement.
CBA said it would continue to offer competitive rates across its products, including the equal lowest owner-occupier Standard Variable rate among the major banks. Home buyers who want to make principal and interest repayments, and live in their property, will likewise not be affected.
