ANZ Banking Group
(ASX:ANZ) will increase its residential investment property loan interest rates by 0.27 per cent.
The bank says the rates will rise to manage investor lending growth targets and in response to changing market conditions.
ANZ will make no change to other variable lending rates, including the standard variable rate for owner-occupied home loans or for business lending.
The bank advises fixed rates for new owner-occupied home lending will be reduced by up to 0.4 per cent.
ANZ Banking Group reported a net profit of $3.51 billion in the first half of the 2015 financial year.
