Macquarie lifts fixed-rate home loans
Fresh off leaving sub-5% fixed home loans behind in November, Macquarie has rolled out one of its biggest hikes in recent months, setting the stage for a market that doesn’t expect cuts soon.
Macquarie Bank’s lowest fixed rate for owner-occupiers is now 5.34% p.a. (5.36% p.a. comparison rate*) for borrowers with a ≤70% loan-to-value-ratio (LVR) locking in a one-year principal and interest (P&I) loan.
Borrowers looking to lock-in now face a steep increase from 4.99% p.a. just weeks ago.
High-LVR borrowers are feeling the sharpest impact. Macquarie Bank has applied its biggest hikes to borrowers with LVRs over 80%, with one-year fixed home loans jumping 90 basis points to 6.39% (6.41% p.a. comparison rate*).
Three of Australia’s big four banks' economics teams, ANZ, CommBank, and NAB, now expect the 3.6% cash rate to stay on hold through 2026, with ANZ dropping its forecast for a final RBA cut amid persistent inflation pressures.
Westpac stands apart, predicting two rate cuts in May and August, betting the recent inflation uptick is temporary.
Macquarie’s latest rates
Macquarie has targeted its largest rate hikes at owner-occupiers with loan-to-value ratios above 80%, with one-year fixed home loans rising 90 basis points to 6.39% (6.41% p.a. comparison rate*).
Below is a breakdown of the bank’s updated owner-occupier home loan rates:
Fixed period | LVR | Rate (Comparison rate*) | Change (%) |
One year | ≤70% | 5.34% (5.36%) | +0.15 |
70–80% | 5.39% (5.41%) | +0.10 | |
80–95% | 6.39% (6.41%) | +0.90 | |
Two years | ≤70% | 5.44% (5.38%) | +0.25 |
70–80% | 5.49% (5.43%) | +0.20 | |
80–95% | 6.49% (6.43%) | +0.90 | |
Three years | ≤70% | 5.49% (5.40%) | +0.20 |
70–80% | 5.54% (5.46%) | +0.15 | |
80–95% | 6.54% (6.46%) | +0.85 | |
Four years | ≤70% | 5.54% (5.43%) | +0.25 |
70–80% | 5.59% (5.48%) | +0.20 | |
80–95% | 6.59% (6.49%) | +0.70 | |
Five years | ≤70% | 5.64% (5.49%) | +0.25 |
70–80% | 5.69% (5.54%) | +0.20 | |
80–95% | 6.69% (6.55%) | +0.80 |
On the other hand, Macquarie’s lowest fixed rate for investment borrowers is now 5.49% p.a. (5.51% p.a. comparison rate*) for those with a ≤70% loan-to-value ratio (LVR) locking in a one-year principal and interest (P&I) loan.
See how Macquarie’s rate changes affect investors across different LVRs and fixed periods:
Fixed period | LVR | Rate (Comparison rate*) | Change (%) |
One year | ≤70% | 5.49% (5.51%) | +0.14 |
70–80% | 5.54% (5.56%) | +0.09 | |
80–90% | 6.40% (6.42%) | +0.65 | |
Two years | ≤70% | 5.59% (5.53%) | +0.24 |
70–80% | 5.64% (5.58%) | +0.19 | |
80–90% | 6.50% (6.44%) | +0.75 | |
Three years | ≤70% | 5.64% (5.56%) | +0.19 |
70–80% | 5.69% (5.61%) | +0.14 | |
80–90% | 6.55% (6.47%) | +0.70 | |
Four years | ≤70% | 5.69% (5.58%) | +0.24 |
70–80% | 5.74% (5.64%) | +0.19 | |
80–90% | 6.60% (6.50%) | +0.61 | |
Five years | ≤70% | 5.79% (5.64%) | +0.24 |
70–80% | 5.84% (5.69%) | +0.19 | |
80–90% | 6.70% (6.56%) | +0.71 |
Other movers
CommBank-owned Bankwest increased its fixed rates by up to 35 bps.
Its most competitive fixed rate is now at 5.34% p.a. (7.72% p.a. comparison rate*), offered to owner-occupiers with a LVR of 80% or lower who choose a two-year fixed term.
Fixed period | LVR | Rate | Comparison rate* | Change (%) |
One year | ≤80% | 5.59% p.a. | 8.02% p.a. | +0.20 |
80–90% | 5.99% p.a. | 8.06% p.a. | +0.20 | |
90–95% | 6.39% p.a. | 8.11% p.a. | +0.20 | |
Two years | ≤80% | 5.34% p.a. | 7.72% p.a. | +0.35 |
80–90% | 5.74% p.a. | 7.80% p.a. | +0.35 | |
90–95% | 6.14% p.a. | 7.88% p.a. | +0.35 | |
Three years | ≤80% | 5.59% p.a. | 7.54% p.a. | +0.20 |
80–90% | 5.99% p.a. | 7.66% p.a. | +0.20 | |
90–95% | 6.39% p.a. | 7.77% p.a. | +0.20 |
ANZ’s Suncorp also lifted its fixed home loan rates by up to 20 bps, with its lowest available rate now sitting at 5.09% p.a. (5.79% p.a. comparison rate*).
This rate is offered on the Home Package Plus product to owner-occupiers with a LVR of 80% or below who lock in a two-year fixed term.
Fixed period | LVR | Rate (Comparison rate*) | Change (%) |
Two years | ≤80% | 5.09% (5.79%) | +0.20 |
>80% | 5.29% (6.05%) | +0.20 | |
Three years | ≤80% | 5.19% (5.78%) | +0.20 |
>80% | 5.39% (6.04%) | +0.20 |
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Looking to buy a home or refinance? This table displays some of the most competitive interest rates in the market.
| 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 |
