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postheadericon 32 percent, a move that analysts said could draw flak from

Australia’s NAB hikes home loan rate

SYDNEY, March 16 (Reuters) National Australia Bank became the first of the country Big canadian goose jacket Four lenders to raise mortgage rates on Thursday, a move that in part will be welcomed by regulators desperate to cool runaway real canada goose deals estate prices.

NAB, Australia buy canada goose jacket cheap No.4 lender by market value, raised interest rates Canada Goose Parka on residential investment loans by 25 basis points Canada Goose online to 5.80 percent to clamp down on the growth in the segment, canada goose coats on sale it said in a statement.

But it also raised owner occupier loans by 7 basis points to 5.32 percent, a move that analysts said could draw flak from consumers and politicians.

Earlier this week, a senior central banker signalled regulators were ready to impose tighter lending restrictions to ward off risks in a Canada Goose Online housing market that has seen prices grow at their fastest 2018 canada goose outlet since 2010.

Home prices in major cities jumped 11.7 percent in the year through February, while in Canada Goose Outlet Sydney they have shot up 18.4 percent.

major surprise was canada goose replica the increase in owner occupier rates, coming at a time when consumer spending is relatively weak, said Shane Oliver, head of investment strategy at AMP Capital.

Oliver said there was a danger buy canada goose jacket that higher home loan rates for owner occupiers could weaken the economy to a point that the central bank is forced, reluctantly, to cut the canada goose outlet toronto factory policy rate already at a record low.

we see a few more of these out of cycle rate hikes it could contribute to canada goose outlet store locations another rate cut by the RBA.

The Reserve Bank Canada Goose Coats On Sale of Australia (RBA) canada goose clearance sale kept its policy rate at 1.50 percent canada goose black friday sale for an eighth straight month in March and has signalled a steady outlook canada goose for the year ahead.

RBA governor Philip Lowe recently spoke about the danger of a debt fuelled boom and bust, adding further interest rate cuts would not be in the national interest.

But an increase in official cash rates is also undesirable as the economy still needs support with the jobless rate at a 13 month peak and wage growth at its weakest in nearly two decades.

For canada goose clearance banks, rising cost of borrowing, stiff lending competition and onerous regulations mean they are forced to push interest rates higher to protect their profitability.

are trying to get it across to politicians and the public that higher regulatory requirements come at a cost and banks are going to use their repricing powers to limit their damage, canada goose coats said Morningstar analyst David Ellis.

HOT PROPERTY MARKET The value of home loans rose 1.5 percent Canada Goose sale in January to stand 11 percent up canada goose store annually, latest data showed. Growth was largely driven by a 4.2 percent jump in the value of loans to investors in January alone, with the annual pace surging 27.5 percent.

linked website It is this boom in investment home lending that regulators want to contain.

Already, the major banks share of new mortgages written has sunk to 65.25 percent from a peak of 72.2 percent in August.

the major banks lose cheap Canada Goose market share at this high end of the cycle they are actually doing themselves a favour. So if and when the housing cycle turns down they won be stuck with a lot of these more risky home loans, Ellis added.

officialcanadagoosesoutlet On Wednesday, Commonwealth Bank of Australia, the nation largest mortgage provider, and its subsidiary Bankwest said they will raise interest rates and toughen lending conditions for investment Canada Goose Jackets property buyers.

Westpac and ANZ declined to comment on the future course of rate action, while CBA could not immediately be reached. (Additional reporting by Wayne Cole and Cecile Lefort; Editing by Simon Cameron Moore).

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