Mortgage Interest Rates in Australia Oct 2009

October 2009

The RBA increased the Base rate by 0.25 to 3.25% in Oct 2009

The big banks are now quoting the following rates for their Standard Variable Rate Home loans in October 2009.

  • 5.99% NAB
  • 5.99% CBA
  • 6.06% ANZ
  • 6.06% Westpac

These rates are to come into effect in the week starting 12th October 2009

Some examples of Fixed Rate Home loans are:

3 Year Fixed Rate:


Agoda Hotel Bookings
Sponsor ai10
  • 6.69% NAB at September 2009 (before the Oct rate rise)
  • 6.99% ANZ at September 2009 (before the Oct rate rise)
  • 7.19% Westpac at September 2009 (before the Oct rate rise)
  • 7.29% CBA at September 2009 (before the Oct rate rise)

Although all banks are free to set their own mortgage rates in Australia, the majority do seem to set them at very similar levels.

The Reserve Bank of Australia (RBA) also issue a monthly spreadsheet detailing the changes in what they call the “F05 Indicator Lending Rates”.

One of these rates is the Banks Variable Standard Housing Loan rates.

A graph of these rates, from 1969 to 2009, using a 3 monthly average, is shown here:

Historical Australian Standard Variable Mortgage Interest rate
Historical Australian Standard Variable Mortgage Interest rate

The original, and updated, RBA data file can be found at:

0 0 votes
Article Rating
Subscribe
Notify of
guest

0 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x