- CommBank has lifted its fixed home loan interest rates by up to 70 basis points
- It joins its big bank counterparts which have all lifted fixed rates at the end of 2025
- Macquarie Bank also made another round of fixed rate increases on Thursday
Australia's biggest home lender Commonwealth Bank has hiked its fixed home loan rates across the board on the same day Macquarie Bank announced further fixed rate rises.
CommBank follows its big four peers NAB, Westpac, and ANZ who all lifted their fixed home loan rates last month, along with a raft of smaller lenders.
Macquarie also lifted its fixed home loan rates in December, making Thursday's move the bank's third round of fixed rate hikes since November.
Westpac has lifted twice over the same period.
It's another clear sign the mortgage market is manoeuvring itself for a rise in the Reserve Bank cash rate in 2026.
How do big bank fixed rates compare?
CommBank's new lowest fixed rate is now 5.79% p.a. (7.40% comparison rate*) for owner occupier package loan borrowers fixing for two years and making principal and interest (P&I) repayments.
Here's how it compares with the lowest advertised fixed owner occupier rates of the 'big five':
| Lender | Lowest advertised fixed rate | Comparison rate* | Fixed period and conditions |
| CBA | 5.79% p.a. | 7.40% p.a. | 2 years (package loan) P&I |
| Westpac | 5.59% p.a. | 6.01% p.a. | 2 years (package loan) P&I up to 70% LVR |
| NAB | 5.39% p.a. | 6.16% p.a. | 2 years new borrower deal, up to 80% LVR |
| ANZ | 5.44% p.a. | 6.29% p.a. | 2 years P&I, up to 80% LVR |
| Macquarie | 5.59% p.a. | 5.39% p.a. | 1 year, up to 70% LVR |
See also:
- Guide to CommBank's home loans
- Compare Westpac home loans
- Compare NAB home loans
- Compare ANZ home loans
- Macquarie Bank: home loans
CommBank's new fixed rates
CommBank has lifted fixed rates by up to 70 basis points across its basic owner occupier and investment products as well as its Wealth Package loans.
Here are its new owner occupier rates:
| Period | Type | With Package | Comparison rate* | Without Package | Comparison rate* |
| 1 year | P&I | 5.94% p.a. | 7.56% p.a. | 6.09% p.a. | 7.98% p.a. |
| IO | 6.34% p.a. | 7.60% p.a. | 6.49% p.a. | 8.02% p.a. | |
| 2 years | P&I | 5.79% p.a. | 7.40% p.a. | 5.94% p.a. | 7.75% p.a. |
| IO | 6.19% p.a. | 7.47% p.a. | 6.34% p.a. | 7.83% p.a. | |
| 3 years | P&I | 6.04% p.a. | 7.33% p.a. | 6.19% p.a. | 7.64% p.a. |
| IO | 6.49% p.a. | 7.45% p.a. | 6.64% p.a. | 7.77% p.a. | |
| 4 years | P&I | 6.09% p.a. | 7.25% p.a. | 6.24% p.a. | 7.51% p.a. |
| IO | 6.54% p.a. | 7.40% p.a. | 6.69% p.a. | 7.68% p.a. | |
| 5 years | P&I | 6.24% p.a. | 7.22% p.a. | 6.39% p.a. | 7.44% p.a. |
| IO | 6.64% p.a. | 7.38% p.a. | 6.79% p.a. | 7.62% p.a. |
Investor loans generally come with interest rates 0.05% p.a. higher for periods of one to three years and offer more competitive interest-only (IO) rates.
See also: Investor home loans narrow rates gap
Macquarie Bank's new fixed rates
Macquarie Bank lifted fixed rates by 25 basis points across the board on its basic and offset home loans for owner occupiers and investors.
See also:
Here are the new fixed rates for owner occupiers:
1 year fixed
| LVR | Basic fixed rate | Comparison rate* | Offset fixed rate | Comparison rate* |
| ≤ 70% LVR | 5.59% p.a. | 5.39% p.a. | 5.59% p.a. | 5.62% p.a. |
| ≤ 80% LVR | 5.64% p.a. | 5.44% p.a. | 5.64% p.a. | 5.67% p.a. |
| ≤ 95% LVR | 6.64% p.a. | 6.445 p.a. | 6.64% p.a. | 6.66% p.a. |
2 year fixed
| ≤ 70% LVR | 5.69% p.a. | 5.43% p.a. | 5.69% p.a. | 5.66% p.a. |
| ≤ 80% LVR | 5.74% p.a. | 5.48% p.a. | 5.74% p.a. | 5.71% p.a. |
| ≤ 95% LVR | 6.74% p.a. | 6.48% p.a. | 6.74% p.a. | 6.71% p.a. |
3 years fixed
| ≤ 70% LVR | 5.74% p.a. | 5.47% p.a. | 5.74% p.a. | 5.71% p.a. |
| ≤ 80% LVR | 5.79% p.a. | 5.52% p.a. | 5.79% p.a. | 5.76% p.a. |
| ≤ 95% LVR | 6.79% p.a. | 6.53% p.a. | 6.79% p.a. | 6.75% p.a. |
4 years fixed
| ≤ 70% LVR | 5.79% p.a. | 5.52% p.a. | 5.79% p.a. | 5.75% p.a. |
| ≤ 80% LVR | 5.84% p.a. | 5.57% p.a. | 5.84% p.a. | 5.80% p.a. |
| ≤ 95% LVR | 6.84% p.a. | 6.58% p.a. | 6.84% p.a. | 6.80% p.a. |
5 years fixed
| ≤ 70% LVR | 5.89% p.a. | 5.60% p.a. | 5.89% p.a. | 5.83% p.a. |
| ≤ 80% LVR | 5.94% p.a. | 5.65% p.a. | 5.94% p.a. | 5.88% p.a. |
| ≤ 95% LVR | 6.94% p.a. | 6.66% p.a. | 6.94% p.a. | 6.88% p.a. |
Macquarie's offset benefits are not available while the loan is on a fixed rate of interest although it permits up to $10,000 a year in additional repayments without penalty.
When will the cash rate go up?
With the banks and non-bank lenders positioning themselves for interest rates to rise, the big question is when it will happen.
CommBank and NAB economists expect the cash rate to increase by 25 basis points to 3.85% at the next RBA monetary policy meeting next month.
ANZ and Westpac are less hawkish, seeing an extended period of the cash rate being kept on hold at 3.6% although ANZ notes the upside risk of a hike early in 2026.
Whether interest rates will rise in the short-term will likely hinge on key quarterly inflation data due to be released on 28 January.
The RBA's first monetary policy meeting for 2026 will be held on 2-3 February.
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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.
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.94% p.a. | 5.98% p.a. | $2,978 | Principal & Interest | Variable | $0 | $530 | 90% |
| Promoted | Disclosure | ||||||||||
5.89% p.a. | 5.80% p.a. | $2,962 | Principal & Interest | Variable | $0 | $0 | 80% |
| Promoted | Disclosure | ||||||||||
5.99% p.a. | 6.02% p.a. | $2,995 | Principal & Interest | Fixed | $0 | $0 | 60% |
| Promoted | Disclosure | ||||||||||
5.93% p.a. | 5.93% p.a. | $2,975 | Principal & Interest | Variable | $0 | $395 | 70% | Disclosure |
