At the risk of looking foolish. Can someone please explain the difference betweem the "official cash rate" which is 4.5%
And what the rest of us are paying.
I've just done quick search and the big banks are currently:
ANZ - 7.74% (Comparision rate 7.84%)
NBA - 7.53% (Comparision rate 7.58%)
WBA - 7.71% (Comparision rate 7.92%)
We are currently locked in for another 2 years at 7.79%.