13 Apr Interest Rates on Hold

HOME loan customers should expect to be hit by more out-of-cycle rate rises in the coming months as lenders follow the Bank of Queensland’s surprise increase to mortgage rates yesterday.

Aussie Home Loans’ general manager of product and strategy David Smith said it was up to borrowers to demand better deals, “now’s the time to push their exist lender harder and shop around to see what other lenders have got.”

Financial comparison website RateCity’s spokeswoman Sally Tindall said, “the major banks have made it very clear that they are not beholden to the RBA and the cash rate.”