"Banks are raising variable rates is that because if the government?"
would be better to distil the question would it not?
Why are banks raising interest rates?
Because they want to take heat out of the housing market because it's getting too risky for them.
Why are housing prices on fire? - 3 reasons
Taxation laws and
Low interest rates
Mortgage conditions
so, is it because of government -?
yes - certainly partially - government control tax laws, have a large input in interest rates and can make rules on mortgage conditions one assumes
so, the answer is a firm yes - because other nations governments have very different housing tax laws ----------- and, they do not have runaway house prices
