ANZ follows other majors, increases fixed home loan rates

On Tuesday ANZ became the last of the big-four to raise fixed home loan rates to kick off 2022, increasing by up to 40 basis points.

The past two weeks have seen all three of CommBank, NAB and Westpac raise fixed home loan rates in the wake of key RBA decisions and current inflation data. 

For ANZ, the largest increases applied to a number of three to five year loans for both owner occupiers and investors. 

Across ANZ's home loan portfolio, for owner occupiers some of these increases included: 

• Breakfree Residential Fixed 3 Years ≤80%: 40 basis point increase to 3.39% p.a. (3.52% p.a. comparison rate*)
• Breakfree Residential Fixed 3 Years 80-90%: 40 basis point increase to 3.44% p.a. (3.68% p.a. comparison rate*)
• Breakfree Residential Fixed 4 Years ≤80%: 40 basis point increase to 3.79% p.a. (3.68% p.a. comparison rate*)
• Breakfree Residential Fixed 4 Years 80-90%: 40 basis point increase to 3.84% p.a. (3.83% p.a. comparison rate*)

Similarly for investors, some of these increases included:

• Breakfree Investment Fixed IO 4 Years 80-90%: 20 basis point increase to 4.14% p.a. (4.28% p.a. comparison rate*)
• Breakfree Investment Fixed IO 5 Years 80-90%: 20 basis point increase to 4.34% p.a. (4.37% p.a. comparison rate*)
• Investment Fixed IO 4 Years ≤80%: 20 basis point increase to 4.24% p.a. (4.77% p.a. comparison rate*)
• Investment Fixed IO 5 Years ≤80%: 20 basis point increase to 4.44% p.a. (4.80% p.a. comparison rate*)
• Investment Fixed 3 Years ≤80%: 30 basis point increase to 3.74% p.a. (4.72% p.a. comparison rate*)
• Investment Fixed 4 yrs ≤80%: 40 basis point increase to 4.14% p.a. (4.77% p.a. comparison rate*)

A year ago, the four year fixed rate for residential loans had an interest rate of 2.14% p.a. (3.89% p.a. comparison rate*).

An ANZ-Property Council survey released late last year revealed 60% of firms expect higher interest rates to continue over the next 12 months. 

Further, ANZ-Property Council data noted a net balance of 15% now expect finance to be more difficult to obtain for Australians seeking to enter the property market.

---

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.

Advertisement

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

Product Features

• Fast turnaround times, can meet 30-day settlement
• For purchase and refinance, min 20% deposit
• No ongoing or monthly fees, add offset for 0.10%

Monthly repayments:$1,601

2.60%Advertised Rate (p.a.)

2.96%Comparison Rate*

More details

---

Disclaimers

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.

Latest Articles

• What changes are coming to superannuation for 2022-23? June 29, 2022
• How is inflation impacting consumer spending? June 29, 2022
• 2021 Census reveals an increase in Aussies median personal income June 29, 2022
• Is neobanking dead? Volt Bank to hand back banking licence June 29, 2022
• Top Family Cars in Australia June 29, 2022