The ANZ has lifted home loan rates on all variable investor mortgages by 0.27% and by 0.30% on new fixed investor mortgages in response to APRA’s 10% speed limit on investor credit growth. From The AFR:
The change is significant because while other banks have reduced discounts for new investors, this affects loans that have previously been written.
The chief executive of ANZ’s Australian operations, Mark Whelan, said: “This is a considered decision that takes into account our customers’ position and the criteria we look at when setting rates including our competitive position, our regulatory obligations and the state of the residential property market.”
Good to see. Hopefully the other lenders will follow suit, potentially spelling the beginning of the end for the great investor bubble:
