<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/commonwealth-bank" rel="" target="_blank" title="Commonwealth Bank"><span>Commonwealth Bank</span></a><span> has raised its home loan rates for the second time this month, slugging mortgage holders already doing it tough.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The "Big Four" bank today announced a 0.30 per cent increase to all fixed-rate home loan products will come into effect on Friday.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Rates will reach up to 7.19 per cent for owner-occupiers and 7.04 per cent for investors. </span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/world/donald-trump-suspicious-futures-trades-treason-paul-krugman-corruption-chris-murphy/9bd90b2b-b13e-4cea-a0d3-250bc43ad3d5" rel="" target="_blank" title=""><strong><span>$800m in trades before Trump announcement 'is treason'</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>This will affect new and existing customers, including applications currently in progress.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A Commonwealth Bank spokesperson attributed the decision to "broader funding and market conditions". </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"As Australia's largest lender, we offer a range of home loan options designed to meet the diverse needs of our customers," the spokesperson said.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/commonwealth-bank-raises-home-rates-for-the-second-time-this-month/6d550bba-8437-464b-a2f0-d9310be2eab7" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Fixed-rate lending currently represents a small share of the Commonwealth's new home loans. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Earlier this month on March 17, </span><a href="https://www.9news.com.au/national/australia-interest-rates-rba-banks-response/e91beb9a-3be4-491a-9b0c-10869b6878d0" rel="" target="_blank" title="Commonwealth Bank passed on the Reserve Bank's 0.25 per cent cash rate hike"><span>Commonwealth Bank passed on the Reserve Bank's 0.25 per cent cash rate hike</span></a><span> to variable interest rate home loans and variable rate business loans.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Those changes will also come into effect this Friday. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We recognise interest rate changes can put additional pressure on household budgets and influence how people plan and manage their finances," CBA group executive Angus Sullivan said at the time. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/national/australia-queensland-governments-taxpayer-bailout-rio-tinto-boyne-aluminium-smelter/d1d2289f-4b32-4d39-a401-e679158f6d18" rel="" target="_blank" title=""><strong><span>Mining giant handed $2 billion in taxpayer funds to save 3000 jobs</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Reserve Bank attributed its decision to hand down its second consecutive rate hike this month to a </span><a href="https://www.9news.com.au/finance/inflation-australia-january-2026-cpi-interest-rates-implications/6b382a95-929e-4fda-9d88-1df3ed7cc0b0" rel="" target="_blank" title="surprise inflation jump in January"><span>surprise inflation jump in January</span></a><span> and the </span><a href="https://www.9news.com.au/iran" rel="" target="_blank" title="US-Israeli war in Iran"><span>US-Israeli war in Iran</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Its governor, Michele Bullock, warned of a </span><a href="https://www.9news.com.au/national/how-close-is-australia-to-recession-warning-signs-explained/f6c2e2a9-dc84-4f1c-8de3-d01c8e782eaa" rel="" target="_blank" title="global recession"><span>global recession</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We don't want to have a recession, but if it's hard to get inflation down, then we're going to have to deal with that, possibly," she said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The cash rate currently sits at 4.10 per cent, just 0.25 per cent below the 2024 peak.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The average household with a mortgage and at least one car is now about </span><a href="https://www.9news.com.au/national/australian-families-cost-of-living-fuel-and-interest-rate-hikes-hit-mortgage-holders/9dfdd7b0-be22-4af1-b04f-d50702c5b947" rel="" target="_blank" title="$75 worse off "><span>$75 worse off</span></a><span>, based on data by Canstar and the Australian Automobile Association.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/aussies-pockets-to-suffer-as-treasuer-warns-inflation-to-near-5-per-cent/d9d0398e-1c1a-4787-960f-793b158e9780" target="_blank" title="The latest Treasury modelling"><span>The latest Treasury modelling</span></a><span> found </span><a href="https://www.9news.com.au/inflation" target="_blank" title="inflation "><span>inflation</span></a><span>could hit 5.5 per cent under a scenario where oil prices reach $US120 per barrel and the war in Iran is prolonged.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Unleaded fuel prices are heading towards $3 per litre, while diesel has reached as high as </span><a href="https://www.9news.com.au/national/price-of-diesel-kgari-queensland-remote-petrol-station/8c9defec-aab4-4be8-aac1-fd507b4bc7af" rel="" target="_blank" title="$4 per litre in parts of the country"><span>$4 per litre in parts of the country</span></a><span>. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> 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