WBC lifts fixed interest rates

Wetpac has just increased fixed rates.. CBA and NAB done the same last week.. wonder what they are up to this time?

hmm, i hope the rates dont increase too much before our house is built... i was hoping to lock in a big chunk at a good fixed rate.

Same.

i reckon banks are just playing mind games.. they are anticipating RBA to make more cuts and want people to fix their loans now.. anyway this is just my opinion.. fix or stay variable is up to you.. do what you think is best for yourself..

All good to say that, but the banks didn't even really pass on the last RBA cut, so what difference will more cut's make?

I think the RBA has got that message loud and clear from the banks already. The home loan rates have already started going in the opposite direction.

It took me three weeks for a bank to honour my customer's 0.7% discount off the standard variable rate. These used to be handed out automatically.

Could the slower timing also being due in part to the sheer volume of loans coming through, and the greater market share of loans held by the big banks making them less competitive on rates than they were a couple of years ago?

Actually the delay was due to the reluctance to honour the discount and had nothing to do with the volume keeping them busy.

It's just a staff decision made according to bank pricing policy, normally given instantly.

But the greater market share that banks now have, combined with the volume of loans coming through now and the stricter lending guidelines have been key to them changing their lending policies - hence some discounts that were readily given to many people 12 months ago are not offered to everyone any more and are taking more negotiation to actually get now.