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commonwealth bank have just announced a 0.5 increase in their variable rates but have given a bit of a sweetener reducing one of their fixed rates by 1.6 percent so today we're going to look at exactly what the news is and more importantly where the rates are likely going because i have to say this is quite exciting we've seen now for the second day in a row where yesterday we saw macquarie reducing their fixed rates now we see combank reducing their fixed rates and it's very exciting because it seems like there's a bit of a shift where we're expecting rates to go so let's jump in and find out from the top what's happening with the rate announcement and combank's announcement says that on the second of august rba increased the cash rate 0.5 percent to 1.85 percent as the cash rate is one of the factors that affects their costs of fund they've decided that their home loan variable rates will increase by 0.5 percent

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