Key points
  • CBA lifts fixed and variable home loan rates out of step with the RBA by up to 40 basis points for the first time since June 2022.
  • NAB lifted two variable home loan rates by an additional 20 basis points.
  • Banks are expected to pass on more increases as March RBA cash rate decision looms large.  

This comes as another RBA cash rate decision looms large in the days ahead, with the 10th consecutive increase anticipated based on the RBA’s February meeting minutes. 

CommBank’s increase to fixed and variable rates by up to 40 basis points this week marks the first time since June 2022 Australia’s largest bank has altered home loan rates outside of RBA cash rate movement. 

For new owner occupiers, key increases across CommBank's variable and fixed home loan portfolio include:

  • Extra P&I <70%: 10 basis point increase to 5.22% p.a. (5.23% p.a. comparison rate*).
  • Residential Fixed 1 Year: 40 basis point increase to 6.14% p.a. (7.76% p.a. comparison rate*).
  • Wealth Package Residential Fixed P&I 1 Year 150k+: 40 basis point increase to 5.99% p.a. (7.35% p.a. comparison rate*)

For investors, key increases across CommBank’s variable and fixed home loan portfolio include:

  • Investment Extra P&I <70%: 10 basis point increase to 5.47% p.a. (5.48% p.a. comparison rate*).
  • Investment Fixed P&I 1 Year: 40 basis point increase to 6.24% p.a. (8.28% p.a. comparison rate*).
  • Wealth Package Investment Fixed P&I 1 Year 150k+: 40 basis point increase to 6.09% p.a. (7.87% p.a. comparison rate*).

NAB increases variable home loan rates by 0.20% p.a.

In tandem with CommBank, NAB increased two variable-rate loan options for new owner occupiers and investors by 20 basis points this week. 

For new owner occupiers, NAB’s Base Variable Rate P&I Special Offer >80% lifted to 6.44% p.a. (6.48% p.a. comparison rate*).

For new investors, NAB’s Investment Base Variable Rate P&I Special Offer >80% lifted to 6.79% p.a. (6.83% p.a. comparison rate*).

Around the grounds

ING increases fixed home loan rates by up to 0.35% p.a. 

Following the lead of the majors, ING has increased fixed home loan rates for new owner occupiers and investors by up to 35 basis points.

Key increases across ING’s fixed rate home loan portfolio for owner occupiers and investors include:

  • Residential Fixed 1 Year ≤80%: 35 basis point increase to 5.74% p.a. (5.09% p.a. comparison rate*).
  • Orange Advantage Residential Fixed 1 Year ≤ 80%: 5.64% p.a. (5.08% p.a. comparison rate*).
  • Investment Fixed P&I 2 Years: 25 basis point increase to 5.84% p.a. (5.32% p.a. comparison rate*).
  • Investment Fixed IO 2 Years: 25 basis point increase to 6.04% p.a. (5.41% p.a. comparison rate*).

Australian Mutual Bank varies variable and fixed home loan rates by up to 0.50% p.a.

The Sydney-based mutual bank has both increased and decreased home loan rates this week by up to 50 basis points. 

Increases for new owner occupier and investment loans included:

  • Basic Variable Home Loan: 20 basis point increase to 5.29% p.a. (5.36% p.a. comparison rate*).
  • Residential Fixed 1 Year: 30 basis point increase to 5.58% p.a. (5.61% p.a. comparison rate*).
  • Investment Variable: 20 basis point increase to 6.04% p.a. (6.11% p.a. comparison rate*).
  • Investment Fixed P&I 1 Year: 30 basis point increase to 5.78% p.a. (6.09% p.a. comparison rate*). 

Decreases for new owner occupier and investor loans applied to five-year fixed home loans, falling by 50 basis points. 

  • Residential Fixed 5 Years: 50 basis point decrease to 6.58% p.a. (6.07% p.a. comparison rate*). 
  • Investment Fixed P&I 5 Years: 50 basis point decrease to 6.78% p.a. (6.44% p.a. comparison rate*). 
  • Investment Fixed IO 5 Years: 50 basis point decrease to 6.98% p.a. (6.48% p.a. comparison rate*).

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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.

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Filters
LenderHome LoanInterest 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 TagsFeaturesLinkComparePromoted ProductDisclosure
5.94% p.a.
5.98% p.a.
$2,978
Principal & Interest
Variable
$0
$530
90%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 10% Min Deposit
  • Redraw
  • Extra Repayments
  • More details
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Dedicated loan specialist throughout the loan application.
 Disclosure
5.89% p.a.
5.80% p.a.
$2,962
Principal & Interest
Variable
$0
$0
80%
  • Built and funded by CommBank
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 20% Min Deposit
  • Redraw
  • More details
  • 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
5.99% p.a.
6.02% p.a.
$2,995
Principal & Interest
Fixed
$0
$0
60%
  • Owner Occupier
  • Fixed 3 Years
  • Principal & Interest
  • 40% Min Deposit
  • Redraw
  • More details
  • Competitive rates to help you save
  • A Dedicated Relationship Manager
  • Certainty of repayments with a fixed rate term
 Disclosure
5.93% p.a.
5.93% p.a.
$2,975
Principal & Interest
Variable
$0
$395
70%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 30% Min Deposit
  • Redraw
  • More details
 Disclosure
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Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning
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