Three of the big four banks raise variable home loan interest rates by half a point to match RBA rise

Variable interest rates on home loans at the Commonwealth Bank have hit a three-year high after the bank raised rates to match the RBA’s latest cash rate hike. Photograph: chameleonseye/Getty Images/iStockphoto

The Commonwealth Bank, ANZ and Westpac have matched this week’s move by the central bank and raised their variable home loan rates.

CBA’s rates for owner-occupier and investor mortgages will rise by half a percentage point on 12 August.