Remaining banks increased home loan interest rates

As expected, remaining banks followed St.George example and increased home loan interest rates by 0.15 - 0.20 per cent.

ANZ announced 15 basis point rate rise late Friday afternoon. ANZ’s new standard variable rate of 9.62 per cent came into effect today.

Today National Australia Bank has become the latest bank to turn the screws on homeowners, hiking its standard variable rate by 15 basis points to 9.61 per cent.

Meanwhile, AMP Bank also said it would increase its standard variable home loan interest rate for existing customers by 0.20 per cent, to 9.67 per cent. The standard variable rate for new customers will increase by 0.11 per cent to 9.67 per cent per annum. The changes take effect this week.