Home Loans, Mortgage Refinance, Bad Credit Home Loans

COMMONWEALTH Bank has become the latest bank to increase its fixed-lending rates ahead of the first official interest rate rise expected by the Reserve Bank within months.

CBA revealed yesterday that its one-year fixed rates would be increased by 50 basis points to 6.19 per cent, while a new two-year fixed rate mortgage would become 30 basis points more expensive at 6.84 per cent, The Australian reported.

A three-year fixed home loan will now be 7.29 per cent, up 15 basis points, while a five-year loan will be 10 basis points higher to 7.69 per cent.

Property statistics can be confusing unless you analyse what they mean, writes Anthony Keane.

While the numbers don’t lie, they don’t tell the whole truth. Statistics don’t always paint a clear picture and property is no exception.

For everyone looking to invest in property, it pays to take your statistics with a grain of salt.

Many people use stats as “proof” without understanding their limitations, Property Investment Adviser director Will Chapman says.

“If you make a large financial decision such as buying a property based on limited data, the wrong decision can be made,” Chapman says.

Anyone who watches housing values knows “median house prices” can vary by more than $50,000 depending which research is used.

So it pays to make sure you are comparing apples with apples.

Despite the differences, the companies that supply real estate...