Business
End of low rates: Another bank hikes interest – Yahoo Finance Australia
Today’s move means there are no lenders offering four-year fixed rates below 2 per cent.
An increasing number of lenders are increasing their interest rates. (Image: Getty).
The last bank offering a four-year fixed rate below 2 per cent has increased its rate, suggesting the ultra low rate environment is beginning to expire.
BankVic has announced its four-year fixed home loan rate will increase from 1.95 per cent to 2.29 per cent, meaning no lenders now offer similar products with rates below 2 per cent.
At the beginning of 2020, 32 lenders offered four-year products with rates below…
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