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Variable rates held steady again this week with both the 30 Day and 90 Day rates tightening a fraction to now sit at 7.5700% and 7.7717% respectively. There certainly seems to be a greater stability surrounding the bank lending rates in recent times but the gap between these and the official cash rate remains stubbornly high.

Fixed rates returned to higher levels, effectively precisely where they were two weeks ago, as the market factors in a new round of inflation driven neurosis and broad consensus from economic commentators the Federal Budget was more of a feather than a big stick with regard to easing price and consumption pressures. One to Five Year rates currently range between 7.46% - 7.87%.

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