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Adelaide Bank kicks rates straight into investor’s nuts

Friday, 31 August 2018

Via the AFR:

Adelaide Bank is increasing rates for eight products covering its range of principal and interest and interest-only owner-occupied and investor products.

Principal and interest owner occupied and investment variable loans will be increasing by 12 basis points.

Interest-only owner occupied and residential investment loans will rise by 35 basis points and 40 basis points respectively.

It’s on, baby.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.