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Macquarie hikes fixed rate mortgages for second time in October

01 November 2023 5:26AM

Macquarie Bank has hiked its range of fixed interest home loans for the second time in less than 30 days. The bank yesterday published a new rate card showing that fixed rates on some of its loan products for owner occupiers and investors now exceed 7 per cent. Macquarie last increased its rates in the first week of October, but backed up for more on Tuesday. The fixed rate for owner occupiers on a loan to value ratio of between 70 per cent and 80 per cent has been increased 20 basis points to 6.65 per cent. This product, which requires borrowers to pay monthly principal and interest was priced at 6.35 per cent before the first increase in early October. Owner occupiers wanting to fix for five years on the same LVR are now paying 6.75 per cent. Before the initial repricing of this product in early October this product was being marketed at 6.15 per cent. Owner occupiers wanting a 5-year interest only fixed rate loan now have to pay 7.05 per cent if their LVR is between 70 per cent and 80 per cent. The same pricing applies to investment borrowers wanting to fix for 5 years with interest-only repayments.

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