Commonwealth Bank lifts mortgage rates

Commonwealth Bank has followed its rivals in lifting variable mortgage rates and, like Westpac and ANZ, is pleading increased funding costs.

Commonwealth Bank has followed its rivals in lifting its variable mortgage rates, pleading increased funding costs.

Australia's largest lender says variable rates for owner-occupiers and investors will increase by 0.15 percentage points from October 4.

Westpac was the first major lender to move in the latest round of hikes - which have come despite the Reserve Bank this week once more holding the cash rate at a record low 1.5 per cent - followed by Suncorp, ANZ and now CBA.