Banks Continue to Raise Flexible Loan RatesEven though the Bank of England announced that they were cutting interest rates yet again, most banks are not following in their footsteps. In fact, the norm today seems to be announcements of flexible loan rate increases and cessations of many loan products. Experts are warning that the situation […]
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Flexible Loan Rates Go Up
Posted on April 2nd, 2008 by Bright Light
National Australia Bank announced today that they are increasing their interest rates on regular flexible loans. The new amount of interest on these loans will now be 9.36%.
“Current wholesale funding costs are highly volatile and remain well above normal,” Mr Ahmed Fahour of NAB said in a statement. Bank wholesale funding costs have risen above […]
Will Flexible Loans Be Affected By Interest Rate Drops?
Posted on April 2nd, 2008 by Bright Light
Although the Fed has been slicing away at the interest rate, a new survey has shown that flexible loans have not seen much of an effect. In some cases, the rates for flexible loans have even gone up. However, this latest move by the Fed to slice rates by three-quarters of a percent may have […]
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