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1.Market Observations, 8.Was Sticky

14 July 2018 (AFR) – Funding cost spike slugs borrowers

(14 JUly 2018, AFR, p1, by Jonathan Shapiro)

‘The crisis-like spike in Australian bank funding costs has forced more lenders to slug borrowers with “out of cycle” mortgage rate rises, heightening speculation all borrowers will have to pay more on their home loans within months.  On Friday, $5.5 billion regional bank Bendigo and Adelaide Bank said repayments for owner-occupied borrowers with interest-only loans would rise by 16 basis points while other rates would increase 10 basis points.  It follows rate increases earlier this week by…’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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