For the second time in two weeks, ANZ increased fixed home loan rates - this time by up to 60 basis points.

Fixed rate increases applied to both principal and interest (P&I) and interest only (IO) loans with loan-to-value ratios (LVR) between 80 and 90%.

Highlights of fixed rate increases across ANZ’s home loan portfolio included:

  • Residential Fixed 2 Years ≤80%: 60 basis point increase to 3.99% p.a. (3.17% p.a. comparison rate*)
  • Residential Fixed IO 2 Years ≤80%: 30 basis point increase to 4.39% p.a. (3.23% p.a. comparison rate*)
  • Investment Fixed 4 Years ≤80%: 50 basis point increase to 4.89% p.a. (4.03% p.a. comparison rate*)
  • Investment Fixed IO 4 Years ≤80%: 50 basis point increase to 4.99% p.a. (4.05% p.a. comparison rate*)

Westpac

Fresh off increasing fixed rates last week, Westpac has wasted no time in increasing rates by up to 50 basis points.

This marks the sixth fixed rate increase of the year for Westpac – the most among the big-four to date.

Westpac’s increase applies to principal and interest (P&I) and interest-only (IO) loans across Fixed, Investment Fixed and Premier Advantage products.

Key changes across Westpac’s home loan portfolio for owner-occupiers, included:

  • Fixed Options P&I 3 Years 70%: 15 basis point increase to 4.49% p.a. (4.70% p.a. comparison rate*)
  • Fixed Options IO 3 Years 70%: 30 basis point increase to 5.09% p.a. (5.29% p.a. comparison rate*)
  • Premier Advantage Fixed Options IO 3 Years 70% 150k+: 30 basis point increase to 4.79% p.a. (4.44% p.a. comparison rate*)

For investors, key increases included:

  • Investment Fixed P&I 2 Years 70%: 25 basis point increase to 4.19% p.a. (5.09% p.a. comparison rate*)
  • Investment Fixed IO 2 Years 70%: 50 basis point increase to 4.49% p.a. (5.36% p.a. comparison rate*)
  • Premier Advantage Investment Fixed P&I 2 Years 80%: 25 basis point increase to 3.99% p.a. (4.26% p.a. comparison rate*)
  • Premier Advantage Investment Fixed IO 2 Years 80%: 50 basis point increase to 4.29% p.a. (4.52% p.a. comparison rate*)

Around the grounds

A number of lenders joined ANZ and Westpac this week in increasing fixed home loan rates prior to the Easter break.

AMP Bank

Following CommBank’s lead, AMP increased fixed home loan rates by up to 90 basis points.

These increases applied across AMP’s portfolio of ‘Basic’, ‘Investment’ and ‘Professional Package’ fixed home loans.

Highlights of these increases for owner occupiers included:

  • Basic Fixed P&I 3 Years: 80 basis point increase to 4.74% p.a. (3.41% p.a. comparison rate*)
  • Basic Fixed IO 3 Years: 85 basis point increase to 4.84% p.a. (3.19% p.a. comparison rate*)
  • Basic Fixed P&I 5 Years: 75 basis point increase to 4.99% p.a. (3.80% p.a. comparison rate*)
  • Basic Fixed IO 5 Years: 80 basis point increase to 5.09% p.a. (3.61% p.a. comparison rate*)
  • Professional Package Residential Fixed P&I 3 Years ≤80%: 80 basis point increase to 4.54% p.a. (3.25% p.a. comparison rate*)
  • Professional Package Residential Fixed IO 3 Years: 85 basis point increase to 4.74% p.a. (3.26% p.a. comparison rate*)

For investors, some key increases included:

  • Investment Basic Fixed P&I 3 Years: 85 basis point increase to 4.84% p.a. (3.73% p.a. comparison rate*)
  • Investment Basic Fixed IO 3 Years: 90 basis point increase to 4.84% p.a. (3.35% p.a. comparison rate)
  • Professional Package Investment Fixed P&I 3 Years ≤80%: 85 basis point increase to 4.64% p.a. (3.27% p.a. comparison rate*)
  • Professional Package Investment Fixed IO 3 Years: 90 basis point increase to 4.74% p.a. (3.26% p.a. comparison rate*)

HSBC

In much the same vein as CommBank and AMP, HSBC increased fixed home loan rates by up to 90 basis points for both owner occupiers and investors.

Key increases included:

  • Residential Fixed P&I 5 Years 80-90%: 90 basis point increase to 5.32% p.a. (4.16% p.a. comparison rate*)
  • Home Loan Package Owner Occupier Fixed P&I 5 Years 80-90%: 90 basis point increase to 5.17% p.a. (4.06% p.a. comparison rate*)
  • Investment Fixed P&I 5 Years 80-90%: 90 basis point increase to 5.93% p.a. (4.55% p.a. comparison rate*)
  • Investment Fixed IO 5 Years 80-90%: 90 basis point increase to 5.93% p.a. (4.50% p.a. comparison rate*)

Read more: Which lenders offer five-year fixed home loans?

Bendigo Bank

Bendigo Bank increased fixed home loan rates for owner occupiers and investors by up to 30 basis points.

Key increases across Bendigo Bank’s home loan portfolio included:

  • Complete Home Loan Fixed P&I 2 Years: 30 basis point increase to 4.29% p.a. (2.89% p.a. comparison rate*)
  • Complete Home Loan Fixed IO 2 Years: 30 basis point increase to 4.69% p.a. (3.03% p.a. comparison rate*)
  • Investment Complete Home Loan Fixed P&I 2 Years: 30 basis point increase to 4.49% p.a. (3.09% p.a. comparison rate*)
  • Investment Complete Home Loan Fixed IO 2 Years: 30 basis point increase to 4.69% p.a. (3.15% p.a. comparison rate*)

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

Image by Daniel K Cheung via Unsplash



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