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Variable Rate Changes

ANZ today announced an increase to Variable interest rates of 0.10 percent pa as a result of sustained increases in funding costs associated with the turmoil in global markets, effective Monday, 28th April 2008 (the interest rate applies at settlement not approval):

Variable interest rate home loans that are increasing are the ANZ Standard Variable Rate Home Loan, ANZ Money Saver Home Loan and the ANZ Equity Manager.

Please contact your finance broker on o2 8002 4035 for further information.

Commonwealth Bank have announced they are continuing to experience significant increases in the cost of funds, as a result of sustained market volatility. The announcement states that while Commonwealth continue to absorb some of these costs, it has become necessary to pass on a proportion of these costs through increasing the interest rate on a range of fixed rate home loan products.

These rates apply to all new fixed rate loans, and are effective Monday 14 April 2008.

Commonwealth 1 Year Guaranteed Rate and Fixed Rates will change as follows:

AMP Banking Variable Interest Rate Changes effective 10 April 2008. The following AMP Banking variable interest rate home loans are increasing by 0.10 percent tomorrow

• Introductory Classic Variable Rate Loan
• Classic Variable Rate Loan
• Classic Line of Credit
• Construction Loan
• Select Variable Rate Loan
• Introductory Professional Package Variable Rate Loan
• Professional Package Variable Rate Loan
• Professional Package Line of Credit
• Standard Rate Low Doc (LMI payable LVR >60% to 80%)

Effective Friday 11 April 2008, the Rock Building Society will increase all of its variable home loan interest rates (excluding lo doc variable) by 0.10 percent as a result of continuing increased wholesale funding costs. This interest rate rise is in line with adjustments made by other financial institutions recently.

The days of low interest rates are over

Inflation is a long, not a short, game

Leading independent economic forecaster and industry analyst, BIS Shrapnel, forecasts inflation will remain above three per cent for the rest of 2008, through 2009 and into 2010. However, according to BIS Shrapnel the Reserve Bank of Australia’s (RBA) tightening of the cash rate should be sufficient to bring it back to three per cent by 2010, BIS Shrapnel believes the days of low interest rates are over and the RBA will continue to struggle to control inflation for the next decade.

Commonwealth Bank have announced that effective Wednesday the 9th April 2008 an increase to the standard variable interest rate for home loans.

Standard Variable Rate, Line of Credit Residential Equity Rate, 12 Months Discounted Variable Rate, 3 Year Special Rate Saver Rate and Equity Unlock for Seniors will all increase by 0.12 percent for new and existing customers from Wednesday 9th April 2008

AMP Banking have announced that the volatility on financial markets continues to significantly impact their cost of funds, with the flow-on effect of AMP Banking having to review pricing - however, the Bank continues to absorb a significant portion of the higher funding costs.

As a result, the following changes have been made to AMP Banking interest rates and fees for loan products.

CHANGES EFFECTIVE MONDAY 7 APRIL 2008

Basic Variable Rate Loan - interest rate for new business

Home Loan Interest Rates will Increase in 2008

Home Loan Interest Rates will Plateau in 2008

Home Loan Interest Rates will Decrease in 2008

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