Low Doc Loan variable rates rise again

The four major banks, CBA low doc loans, ANZ low doc loans, Westpac low doc loans, and St George low doc loans have all passed on the rate rise again, meaning the variable rates for low doc loans have risen by at least .25% again. This is on top of the .25% increase that occurred on Tuesday October 6 2009. Low doc loans have risen a total of .5% in the last two months. The next meeting of the Reserve bank is due for Tuesday December 1 2009. A media release normally occurs at about 2.30pm.

As the bank does not normally meet in January, the next meeting for the RBA after December 1 should 2 February 2010