UPDATE (6/12/22): See lenders' reactions to the December 6 RBA rate hike.
The Reserve Bank of Australia (RBA) has lifted the cash rate by 25 basis points, taking it to 2.85%.
Savings.com.au will provide regular updates below of each lenders' announcements regarding passing on this November 2022 rate hike to variable rate home loans.
All rate changes below refer to lenders’ responses to the RBA’s rate hike on 1 November 2022.
Key notes:
P&I = Principal and Interest, IO= Interest Only, OO=Owner-occupiers
Basis points explained: 1 basis point = 0.01%
Big-four home loan rate changes
ANZ
ANZ will increase its variable home loan interest rates by 0.25% p.a., effective 11 November.
ANZ Group Executive Australia Retail Maile Carnegie said cost of living and rate changes have impacted our customers over a period of some months now.
“If customers are facing difficulties, we encourage them to reach out to our experienced teams as early as they can to discuss tailored options to support them,” Ms Carnegie said.
ANZ interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 11 November 2022
- Announcement date: 02 November 2022
CommBank
The Commonwealth Bank (CBA) will lift its home loan variable interest rates by 0.25% p.a., effective 11 November.
CBA Group Executive for Retail Banking Angus Sullivan said the bank is committed to helping customers navigate the current environment.
“We understand the rapidly changing rate environment may raise questions for some of our customers and we are here to help them," Mr Sullivan said.
"We encourage our customers to message us in the CommBank app to explore different support options or to connect with a specialist.”
CommBank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 11 November 2022
- Announcement date: 02 November 2022
NAB
National Australia Bank will increase variable interest rates on home loans by 25 basis points on 11 November.
NAB Group Executive for Personal Banking, Rachel Slade, said banks have a critical role to provide support to those who are finding the increasing interest rates a challenge.
“At NAB, we have dedicated financial counsellors who listen to each customer’s individual situation and are able to offer tailored solutions – whether that be a reduced payment arrangement, payment break or restructuring their loan," Ms Slade said.
NAB interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 11 November 2022
- Announcement date: 01 November 2022
Westpac
Westpac will increase variable home loan interest rates by 25 basis points on 15 November.
Westpac Group Chief Executive for Consumer & Business Banking Chris de Bruin said the bank understands some people will be feeling more financial pressure.
“We know that with the cost of living increasing, some customers are looking at their household budgets," Mr de Bruin said.
"To help them manage their money more easily we’ve recently rolled out new features in the Westpac app to provide customers with insights into their spending and the ability to track and categorise expenses.
“While we have not seen an increase in calls for assistance, and the majority of our customers continue to be ahead on repayments, we are ready to support customers who may need extra help."
Westpac interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 November 2022
- Announcement date: 02 November 2022
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Other lenders' home loan rate changes
Australian Military Bank interest rate rise
Australian Unity interest rate rise
Auswide Bank interest rate rise
Bank Australia interest rate rise
Bank of Melbourne interest rate rise
Bank of Queensland (BOQ) interest rate rise
Bank of Sydney interest rate rise
Bendigo Bank interest rate rise
Beyond Bank interest rate rise
Citi interest rate rise (pending)
Credit Union SA interest rate rise
Defence Bank interest rate rise
G&C Mutual Bank interest rate rise
Gateway Bank interest rate rise (pending)
Great Southern Bank interest rate rise
Greater Bank interest rate rise
Heritage Bank interest rate rise
Homeloans.com.au interest rate rise
Homestar Finance interest rate rise (pending)
Horizon Bank interest rate rise (pending)
HSBC interest rate rise (pending)
loans.com.au interest rate rise
Macquarie Bank interest rate rise
Mortgage House interest rate rise (pending)
MOVE Bank interest rate rise (pending)
MyState Bank interest rate rise
Nano interest rate rise (pending)
Newcastle Permanent interest rate rise
OneTwo Home Loans interest rate rise (pending)
People's Choice interest rate rise (pending)
Police Credit Union interest rate rise (pending)
QBank interest rate rise (pending)
Reduce Home Loans interest rate rise (pending)
State Custodians interest rate rise (pending)
Teachers Mutual Bank interest rate rise
The Mutual Bank interest rate rise
Ubank interest rate rise (pending)
UniBank interest rate rise (pending)
Virgin Money interest rate rise
Well home loans interest rate rise (pending)
Wlth interest rate rise (pending)
Yard interest rate rise (pending)
AMP Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 14 November 2022 (for existing customers)
- Announcement date: 04 November 2022
Athena interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 10 November 2022
- Announcement date: 10 November 2022
Australian Military Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 17 November 2022
- Announcement date: 03 November 2022
Australian Unity interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 11 November 2022
- Announcement date: 11 November 2022
Auswide Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 November 2022
- Announcement date: 04 November 2022
Bank Australia interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 10 November 2022
- Announcement date: 07 November 2022
Bank of Melbourne interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 November 2022
- Announcement date: 03 November 2022
Bank of Queensland (BOQ) interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 11 November 2022
- Announcement date: 03 November 2022
Bank of Sydney interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 10 November 2022
- Announcement date: 08 November 2022
Bankfirst interest rate rise
- November 2022 rate rise: 20 basis points
- Applies to: Variable rate home loans
- Effective date: 18 November 2022
- Announcement date: 10 November 2022
BankSA interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 November 2022
- Announcement date: 03 November 2022
BankVic interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 November 2022
- Announcement date: 10 November 2022
Bankwest interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 November 2022
- Announcement date: 02 November 2022
bcu interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 November 2022
- Announcement date: 10 November 2022
Bendigo Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 09 November 2022
- Announcement date: 04 November 2022
Beyond Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 10 November 2022
- Announcement date: 10 November 2022
Credit Union SA interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 09 November 2022
- Announcement date: 09 November 2022
Defence Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 21 November 2022
- Announcement date: 21 November 2022
G&C Mutual Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 14 December 2022
- Announcement date: 14 November 2022
Great Southern Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 11 November 2022
- Announcement date: 04 November 2022
Greater Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 November 2022
- Announcement date: 07 November 2022
Heritage Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 10 November 2022
- Announcement date: 04 November 2022
homeloans.com.au interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 10 November 2022
- Announcement date: 10 November 2022
Hume Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 November 2022
- Announcement date: 14 November 2022
IMB Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 14 November 2022
- Announcement date: 04 November 2022
ING interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 08 November 2022
- Announcement date: 03 November 2022
loans.com.au interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 04 November 2022
- Announcement date: 04November 2022
Macquarie Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 November 2022
- Announcement date: 02 November 2022
ME Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 12 November 2022
- Announcement date: 03 November 2022
Newcastle Permanent interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 11 November 2022
- Announcement date: 03 November 2022
P&N interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 November 2022
- Announcement date: 10 November 2022
Qudos Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 17 November 2022
- Announcement date: 07 November 2022
RACQ Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 06 December 2022
- Announcement date: 04 November 2022
RAMS interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 November 2022
- Announcement date: 03 November 2022
Resimac interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 10 November 2022
- Announcement date: 10 November 2022
St George interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 November 2022
- Announcement date: 03 November 2022
Suncorp interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 11 November 2022
- Announcement date: 02 November 2022
Teachers Mutual Bank interest rate rise
- November 2022 rate rise: 35 basis points
- Applies to: Variable rate home loans
- Effective date: 25 November 2022
- Announcement date: 25 November 2022
The Mutual Bank interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 1 December 2022
- Announcement date: 21 November 2022
Tic:Toc interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 18 November 2022
- Announcement date: 10 November 2022
Unloan interest rate rise
- November 2022 rate rise: 15 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
Virgin Money interest rate rise
- November 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 11 November 2022
- Announcement date: 03 November 2022
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Current low rate home loans
For quick reference: As things stand, these are some of the lowest-rate home loans Savings.com.au has found on the market:
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | LVR | Lump Sum Repayment | Additional Repayments | Split Loan Option | Tags | Features | Link | Compare |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6.04% p.a. | 6.06% p.a. | $2,408 | Principal & Interest | Variable | $0 | $530 | 90% | 4.6 Star Customer Ratings | ||||||||||
5.99% p.a. | 5.90% p.a. | $2,396 | Principal & Interest | Variable | $0 | $0 | 80% | Featured Apply In Minutes |
| |||||||||
5.94% p.a. | 5.95% p.a. | $2,383 | Principal & Interest | Variable | $0 | $0 | 90% | No hidden feesFree redraw facility |
To see how these rate movements compare with previous RBA rate changes, refer to our past rate change pages:
- October 2022 rate hike
- September 2022 rate hike
- August 2022 rate hike
- July 2022 rate hike
- June 2022 rate hike
- May 2022 rate hike
- November 2020 rate cut
- 19 March 2020 rate cut
- 3 March 2020 rate cut
- October 2019 rate cut
- July 2019 rate cut
- June 2019 rate cut
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