ING Home Loan Interest Rates Increases By 0.10% as of 3rd July 2018

thegourou20 on 29/06/2018 - 16:41
Last edited 29/06/2018 - 16:43

I have received the following email from ING today:

"Hi XXX,

We’re writing to let you know that our variable home loan interest rates are changing on Tuesday 3 July 2018.

Principal and interest loans

For owner-occupier borrowers, principal and interest rates will increase by 0.10% p.a. We’ll adjust any minimum repayments from 27 August 2018 to reflect the new rate and will send you the new repayment amount before the adjustment is made.

Interest-only loans

For owner-occupier borrowers, interest-only rates will increase by 0.10% p.a. This will be reflected in your next repayment from 1 August 2018."

Is this the beginning of another wave of increase in interest rates? Anyone thinking it is a good time to fix your loan?

I am keen to see what other people thinks.

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Comments

  • dcep on 29/06/2018 - 16:49

    yes , US Feds will continue to increase rates

    Local bank borrows from foreign on USD

    RBA no balls to increase rates but banks will themselves

  • resisting the urge on 29/06/2018 - 17:07
    +1

    Fix your rate?

    Asking a bank to price more risk into a product just means you will pay more margin than you normally would for the money.

    IOW, it's a bit like asking the Wolf to tea.

  • John Kimble on 29/06/2018 - 18:41

    Thanks, completely missed that email…

  • MadgeH on 29/06/2018 - 19:54

    Banks are saying that cost of funding has increased substantially in the past few months. Might be worth considering a fixed rate loan, there are some decent offers around at the moment

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