The largest increases applied to three-year fixed rate home loans for owner occupiers and investors.
Five-year fixed rates were lifted by a slightly smaller margin of 20 basis points.
All fixed rate increases applied to loans with a maximum loan-to-value ratio (LVR) of 95%.
Highlights of fixed rate increases across the home loan portfolio of Australia's largest bank included:
- Residential Fixed P&I 3 Years: 25 basis point increase to 3.64% p.a. (4.46% p.a. comparison rate*)
- Residential Fixed P&I 5 Years: 20 basis point increase to 4.14% p.a. (4.53% p.a. comparison rate*)
- Investment Fixed IO 3 Years: 25 basis point increase to 4.04% p.a. (4.98% p.a. comparison rate*)
- Investment Fixed IO 5 Years: 20 basis point increase to 4.14% p.a. (4.87% p.a. comparison rate*)
- Wealth Package Residential Fixed P&I 3 Years 150k+: 25 basis point increase to 3.49% p.a. (4.18% p.a. comparison rate*)
- Wealth Package Residential Fixed P&I 5 Years 150k+: 20 basis point increase to 3.99% p.a. (4.33% p.a. comparison rate*)
See also: Which lenders offer 5 year fixed rate home loans?
CommBank's fixed rate increases come off the back of the bank moving forward its forecast of a RBA cash rate hike from August to June.
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.
Lender | Home Loan | Interest 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 | Tags | Features | Link | Compare | Promoted Product | Disclosure |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6.04% p.a. | 6.06% p.a. | $3,011 | Principal & Interest | Variable | $0 | $530 | 90% | 4.6 Star Customer Ratings |
| Promoted | Disclosure | |||||||||
5.99% p.a. | 5.90% p.a. | $2,995 | Principal & Interest | Variable | $0 | $0 | 80% | Apply in minutes |
| Promoted | Disclosure | |||||||||
5.69% p.a. | 6.16% p.a. | $2,899 | Principal & Interest | Fixed | $0 | $530 | 90% |
| Promoted | Disclosure |
Image by Bidgee via Wikimedia Commons
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