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Increased home loan rate vs low cash rate

The number of home loan approvals fell in April, the latest ABS housing finance figures show. (AAP) Source:

Australia currently has a record low official cash rate of 1.5 per cent. But despite the low cash rate and slowing property market, some banks have moved up the home-loan interest rates. Many people believe that it’s the greed that has forced banks to take such an irrational step. Finance Adviser Biswas Bhattarai explains to us that there is more to this than meets the eye.

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