I got a letter in the mail from our bank yesterday. The Reserve Bank raised interest rates about a month ago, and now our bank is passing that on to us. Mind you, our payments do not go up until September.
Our new variable rate is 6.91% - and we get a package discount which takes it down to 6.80%.
Our fixed rate is 7.64%.
We have a split loan, part is variable and part is fixed, and the variable portion payments will go up ~$14 a week.
interest rates up
June 9th, 2010 at 01:59 am
June 9th, 2010 at 02:29 am 1276046986
June 9th, 2010 at 03:04 am 1276049097
so when we log in to view our accounts, there is an account with a balance of -$122000.00 and another with a balance of -$170000.00