Business
‘Expect to see mortgage rates moving up’: Bank funding costs to rise as $200b scheme ends – Sydney Morning Herald
The end of a $200 billion emergency funding scheme for banks is expected to lift fixed mortgage rates from ultra-low levels.
The Commonwealth Bank gave an early sign of the pressure on fixed-rate funding when it increased its three-year rate by 0.05 per cent on Friday, in a move that rivals are likely follow. Longer term fixed rates are also rising in response to higher bond yields.
The RBA has said it does not expect to move the cash rate which affects the variable rates paid by most borrowers until 2024.
Before COVID, Australian banks raised more than $100 billion a year in wholesale funding from foreign and local investors,…
-
Business22 hours ago5 things to watch on the ASX 200 on Monday 1 September 2025
-
Noosa News22 hours agoStar Brisbane cricketer finds home in suburb with shocking popularity rise
-
Noosa News10 hours agoMassive wind farm project in Queensland axed amid community backlash
-
Business13 hours agoIAG shares are racing higher today. Here’s why