Home loan interest rate movements this week have generally followed the ongoing trend of rising fixed rates and falling variable rates.

From Commonwealth Bank to Athena - let's dive into some of the market activity over the past week.

CommBank hiked various fixed rates

CBA hiked a number of its fixed interest rates on both owner-occupier and investor mortgages from 10 to 60 basis points:

  • Residential Fixed P&I 3 yrs: 30 basis point increase to 3.14% p.a. (4.33% comparison rate)
  • Investment Fixed IO 3 yrs: 40 basis point increase to 3.64% p.a. (4.88% comparison rate)
  • Investment Fixed P&I 3 yrs: 60 basis point increase to 3.44% p.a. (4.82% comparison rate)
  • Wealth Package Investment Fixed IO 3 yrs 150k+: 40 basis point increase to 3.49% p.a. (4.57% comparison rate)

Suncorp raises fixed rates, drops variable rates

Suncorp Bank adjusted its interest rates on many of its home loan products. 

Specifically, it raised its fixed rates by up to 62 basis points while lowering its variable rates by up to 32 basis points.

  • Home Package Plus P&I Fixed 3 yrs ≤80% Special Offer: 52 basis point increase to 2.69% p.a. (2.88% comparison rate)
  • Home Package Plus P&I Fixed 3 yrs 80-90% Special Offer: 62 basis point increase to 2.89% p.a. (3.16% comparison rate)
  • Investment Home Package Plus P&I 70-80% Special Offer: 32 basis point decrease to 2.57% p.a. (2.99% comparison rate)
  • Back to Basics Better Together P&I 70-80% Special Offer: 21 basis point decrease to 2.02% p.a. (2.03% comparison rate)

Going against the current, the bank also lowered a few of its fixed rates, including:

  • Investment Home Package Plus P&I Fixed 1 yr 80-90% Special Offer: 24 basis point decrease to 2.34% p.a. (3.43% comparison rate)

Athena increases fixed rates by up to 40 basis points

Non-bank lender Athena increased fixed interest rates on its owner-occupier mortgages.

  • Fixed P&I 3 yrs ≤60%: 40 basis point increase to 3.39% p.a. (2.33% comparison rate)
  • Fixed P&I 3 yrs 60-70%: 40 basis point increase to 3.44% p.a. (2.36% comparison rate)
  • Fixed P&I 3 yrs 70-80%: 40 basis point increase to 3.49% p.a. (2.40% comparison rate)

ME increases fixed rates for owner-occupiers and investors

ME Bank also increased its fixed interest rates while lowering its variable rates.

The BoQ-owned bank increased its fixed rates by up to 30 basis points, including its Flexible Fixed OO 3 yrs P&I (2.69% p.a., 3.91% comparison rate).

In the same breath, it lowered its variable rates - such as the Member Package Flexible Home Loan OO P&I 60-70% 150-399k (2.29% p.a., 2.75% comparison rate) - by up to 34 basis points.

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Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
6.04% p.a.
6.06% p.a.
$3,011
Principal & Interest
Variable
$0
$530
90%
4.6 Star Customer Ratings
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
5.99% p.a.
5.90% p.a.
$2,995
Principal & Interest
Variable
$0
$0
80%
Apply in minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
 Disclosure
6.09% p.a.
6.11% p.a.
$3,027
Principal & Interest
Variable
$0
$250
60%
  • No annual fees – None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
 Disclosure
5.69% p.a.
6.16% p.a.
$2,899
Principal & Interest
Fixed
$0
$530
90%
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Flexibility to split your loan with both fixed and variable rates
 Disclosure
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning



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