AMP Home Loans have today increased all but its one-year fixed interest rates. The changes for both its standard and priority products were six-month rate up by 25 basis points, two-year up 21 points, three-year up 29 points and its four and five-year rates rose 25 and 10 points respectively. Its rates for its priority or loans of $200k or more are still well below the median rates for each term.
One story to come out of yesterdays OCR announcement is the view that the decision to keep the official cash rate at 2.5% until the second half of 2010 will fire up the housing market. Click here to read more.
