Commonwealth Bank follows Westpac, lifts variable home loan rates

The Commonwealth Bank has become the second big bank to lift its home loan interest rates independently of the Reserve Bank.

ALEX HEINKE reports.

The bank said it would raise its standard variable interest rates by 15 basis points for both owner occupier and investment home loans.


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The move will partially offset costs associated with stricter capital requirements recommended by the Financial System Inquiry, the bank said.

The hike comes into affect from November 20.

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