Australian interest ratesAustralian Property

AMP joins interest-only tightening rush

David Llewellyn-Smith
Monday, 29 May 2017
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Via AFR:

AMP and other property lenders are announcing a new round of rate rises for interest-only loans of up to 28 basis points and doubling mortgage minimum deposits in the latest round of tightening.

Fixed rates for one to five-year owner-occupied and investment interest-only loans will increase by 20 basis points.

The minimum deposit for borrowers will double to 20 per cent.

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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.