Australia’s largest lender, Commonwealth Bank, is tipping the Reserve Bank will push through two more 0.5 percentage point interest rate rises in August and September, with a final push to 2.6 per cent in November.
Mr Aird said higher rates would begin to bite as the huge numbers of fixed-rate loans come to an end in the next 12 months. About 40 per cent of the value of CBA and Westpac’s mortgage book is locked in, RateCity said.“The impact on households with a mortgage will be very significant given the percentage change in the mortgage rate will be incredibly large,” Mr Aird said.
AMP Capital’s Shane Oliver, Jarden’s Carlos Cacho and Vanguard’s Alexis Gray think there is a clear risk of 75 basis points if the June quarter inflation figures due out on July 27 are higher than expected.
This is BS , people are working extra to get extra money in by sacrificing family time and these so called experts sits in the office and milk the money , why can't these money minded banks work 24*7 roster , I bet they will be crying CommBank BankofMelb NAB ANZ_AU Suncorp