Customers of Commonwealth Bank who are making interest-only variable mortgage repayments may want to consider switching out of that arrangement.
Australia’s largest bank has joined the other big three banks in lifting interest-only mortgage rates in an attempt to de-risk its lending portfolio and comply with regulatory requirements.
CBA customers who are making interest-only home loan repayments will see their rates rise by 30 basis points – or 0.3 percentage points – from July 7.
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