FED: Costello says shop around if rates too high

AAP General News (Australia)
02-04-2000
FED: Costello says shop around if rates too high

by James Grubel, Chief Political Correspondent

CANBERRA, Feb 4 AAP - Treasurer Peter Costello urged home buyers to shop around if
they were unhappy with mortgage charges today, as the major banks lifted their interest
rates.

The ANZ, National Australia Bank, Westpac and Colonial State Bank all lifted their
variable mortgage rates by 0.5 percentage points today following the Reserve Bank of Australia's
increase in official rates this week.

They joined the Commonwealth Bank, which announced its rate hike earlier in the week.

Mr …