ANZ and Commonwealth Bank have announced they will be raising their home loan interest rates.
ANZ's variable mortgage rates will go up by 16 basis points
But the bank says home loan customers in drought-declared areas of regional Australia will be excluded from the change.
Meanwhile Commonwealth Bank will increase their rates by 15 basis points.
It comes after Westpac announced a similar rate rise last week.
Meanwhile…
The federal government is hinting the budget could return to surplus earlier than expected.
The latest figures show the economy is expanding at its fastest pace since the mining boom six years ago.
Treasurer Josh Frydenberg says those figures will be reflected in the final budget outcome, due out later this month.
Currently, the budget is scheduled to return to surplus in the 2019/2020 financial year.
But government senator Zed Seselja has told Sky News the government has been able to grow the economy whilst restricting government spending.
However, the opposition says things are not as good as the government is portraying, putting emphasis on consistent low wages growth.
