Australian banks Australian interest rates Australian Property

CBA rewards low risk, punishes high risk mortgages

Wednesday, 8 April 2020

Canstar reports that CBA has cut the basic variable rate by 18 basis points for owner occupiers paying either principal and interest or interest only and with loan-to-valuation ratios below 70 per cent. The new rate is 2.79 per cent.

For owner occupiers paying either P&I or interest only and with an LVR between 70 and 80 per cent, the basic variable rate has been cut 28 bps. The new rate is 2.79 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.