RateCity
Rate Rise
A rate rise is when a financial institution increases their interest rates on their financial products such as home loans, savings accounts and credit cards. A rate rise usually occurs after the Reserve Bank of Australia lifts the official cash rate, which is the benchmark used by lenders to determine the rate when borrowing between financial institutions. The average rate rise is 25 basis points and there were 10 rises to the cash rate between 2003 and 2008. A rate rise helps maintain economic inflation for example, when interest rates increase the value of the real estate market generally drops or steadies. A rate rise is not necessarily a bad thing.The table below displays today's best 3 year fixed home loan interest rates, offered by banks only.
