Finance Broker Australia Home Loan Broker

Changes to Variable and Fixed Home Loan / Investment Home Loan Rates

The Commonwealth Bank today announced that it will cut its variable interest rate and fixed rates for home loans and investment home loans, as from Thursday 30 October 2008.

Interest rates for the following lending products (new and existing borrowings) will change from Thursday 30 October 2008:
Standard Variable Rates

• Standard Variable Rate (including Low Doc) - 0.21 percent
• 12 Months Discounted Variable Rate - 0.21 percent

Following recent interest rate movements in the market, Commonwealth Bank is reducing its fixed interest rates on home loans and is lowering its Line of Credit Reference Rate by 0.80 percent.

Fixed interst rates are to be reduced by up to 1.55 percent effective Monday 20th October 2008

Contact Ability Finance brokers using this email form or telephone 02 80024035 for information and help with choosing a suitable home loan.

COMMONWEALTH BANK OF AUSTRALIA TO ACQUIRE BANKWEST AND ST ANDREW’S

Sydney, 8 October 2008:

The Commonwealth Bank of Australia (the Group) has acquired the Bank of Western Australia Limited (BankWest) and St Andrew’s Australia Pty Ltd (St Andrew’s) through the execution of a sale and purchase agreement with UK based HBOS plc.

The purchase does not extend to HBOS’s other Australian businesses - Capital Finance Australia Ltd, BOS International (Australia) Ltd and HBOS’s Australian Treasury operations.

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:

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

Bank announces .35bp interest rate rise

Monday 10th March 2008

Commonwealth Bank today announced the standard variable interest rate is to rise to 9.32% from Wednesday the 12th March 2008 for both new and existing customers.

The Reserve Bank of Australia lifted wholesale funding rates on Tuesday 4th March 2008 when they announced a 0.25% increase to the official cash rate.

The bank is raising the standard variable rate an additional 0.10% the reflect the continued cost of wholesale funding.