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Tuesday 1st April 2008
Reserve Bank of Australia leaves interest rates on hold for now.
At its meeting today, the Board of the Reserve Bank decided to leave the cash rate unchanged at 7.25 per cent.
The cash rate has been increased twice this year in an effort to limit inflation. More information and the entire release is available at the RBA Australia website.
Monday 31st March 2008
St George Bank change to Variable Home Loan Interest Rates - effective from Thursday 3 April 2008
Due to continued higher costs of wholesale funding St George/BankSA will increase the interest rates on its Variable Rate Home Loans by 0.10 percent per annum. This new rate will be effective for both new and existing borrowers from Thursday 3 April 2008.
St George Bank variable interest rate home loan products increasing by 0.10 percent are as follows.
The Reserve Bank of Australia statistics show fixed interest housing finance data from September 1990 trough to Feb 2008.
The average interest rate for a 3 year fixed interest rate home loan interest rate over this time frame has been 8.40 percent.
The lowest rate has been 5.90 percent and the highest 3 year fixed interest rate housing loan was 15.5 percent in September 1990.