Via The Australian:
Suncorp on Tuesday said it would be hitting owner occupier borrowers with a five basis point increase, which would leave them with a standard variable rate of 5.6 per cent. Investors will face an 8 basis point hike to standard variable loans, taking the rate to 6.07 per cent. Borrowers with interest-only loans will be slugged a 12 basis point hike, leaving owner-occupiers with a 5.77 per cent rate and investors with a 6.49 per cent rate.
“Funding costs have been steadily rising since the end of October,” Suncorp Bank boss David Carter said. “This has been driven by the outlook for US interest rates, as well as domestic factors.”
