Westpac, ANZ lift fixed home loan rates amid rising market
- All four big banks have increased their fixed home loan rates in the past fortnight
- Westpac and ANZ this week joined CommBank, NAB, and Macquarie Bank who upped fixed rates last week
- Around 20 lenders have lifted their fixed home loan rates in a week when Westpac economists forecast three more cash rate increases in May, June, and August
Westpac and ANZ have followed their big four counterparts CommBank and NAB who lifted their fixed home loan rates last week.
Australia's fifth big bank Macquarie also upped its fixed rates last week along with a host of smaller lenders doing the same.
This week's fixed rate increases came amid a flood of already-announced 25-basis point hikes to variable rates being passed on from the March cash rate increase.
It wasn't that long ago that economists were tipping one cash rate hike in 2026 - a settler in May - but as we've seen, economic storms can gather quickly.
Westpac economists were on the front foot this week, tipping there will be another three near-term cash rate hikes in May, June, and August.
That scenario would lift the cash rate to 4.85%, its highest rate since the Global Financial Crisis in 2008.
With economists expecting mid-year inflation readings above 5% on the back of fuel price flow-ons, it's little wonder lenders are scrambling to set their fixed home loan rates higher.
Westpac ups fixed rates home loans by 50bp
It makes sense that Westpac's rate setters are in step with the bank's economists, moving the full suite of fixed owner-occupier and investor home loans higher on Thursday.
Generally, one-year fixed rates saw the highest increases with fixed interest-only investor rates seeing the full 0.50% added.
Here's a look at a selection of Westpac's new fixed owner occupier rates:
| Product | New rate (% change) | Comparison rate* |
| Fixed Options P&I LVR 70-80% (1 year) | 6.54% p.a. (+0.45) | 8.49% p.a. |
| (2 years) | 6.44% p.a. (+0.25) | 8.26% p.a. |
| (3 years) | 6.64% p.a. (+0.35) | 8.13% p.a. |
| (4 years) | 6.84% p.a. (+0.45) | 8.04% p.a. |
| (5 years) | 6.84% p.a. (+0.45) | 7.92% p.a. |
| Premier Advantage Fixed Options P&I LVR 70-80% (1 year) | 6.34% p.a. (+0.45) | 6.63% p.a. |
| (2 years) | 6.24% p.a. (+0.25) | 6.62% p.a. |
| (3 years) | 6.44% p.a. (+0.35) | 6.67% p.a. |
| (4 years) | 6.64% p.a. (+0.45) | 6.76% p.a. |
| (5 years) | 6.64% p.a. (+0.45) | 6.79% p.a. |
Westpac's Premier Advantage Packages offer a 0.20% p.a. interest rate discount for a $395 annual package fee.
Other brands in the Westpac group - St George, Bank of Melbourne, and BankSA - also increased their fixed home loans rates by up to 50 basis points on Thursday.
ANZ increases fixed rates by up to 40bp
ANZ moved on Wednesday to lift its one-to-five year fixed home loan rates with three-year rates seeing the full 40-basis point increase.
ANZ's featured rate is a two-year fixed rate of 6.39% p.a. (6.87% p.a. comparison rate*) for those with up to 80% LVR and making P&I repayments.
Here's a look at some of ANZ's new owner-occupier fixed rates for those making P&I repayments:
| Product | New rate (% change) | Comparison rate* |
| 1 year fixed up to 80% LVR | 6.34% p.a. (+0.35) | 6.93% p.a. |
| 80-90% LVR | 6.79% p.a. (+0.35) | 7.15% p.a. |
| 2 year fixed up to 80% LVR | 6.39% p.a. (+0.35) | 6.87% p.a. |
| 80-90% LVR | 6.84% p.a. (+0.35) | 7.12% p.a. |
| 3 year fixed up to 80% LVR | 6.54% p.a. (+0.40) | 6.86% p.a. |
| 80-90% LVR | 6.99% p.a. (+0.40) | 7.14% p.a. |
| 4 year fixed up to 80% LVR | 6.54% p.a. (+0.35) | 6.83% p.a. |
| 80-90% LVR | 6.99% p.a. (+0.35) | 7.12% p.a. |
| 5 year fixed up to 80% LVR | 6.59% p.a. (+0.25) | 6.82% p.a. |
| 80-90% LVR | 7.04% p.a. (+0.25) | 7.13% p.a. |
For those pondering whether to fix their home loan interest rates, it's worth mentioning ANZ also offers seven- and 10-year fixed rate home loans although those rates didn't change this week.
ING edges fixed home loan rates higher
ING is Australia's sixth-largest provider of owner-occupier home loans and eighth on the investor home loan rankings.
The Dutch-owned online bank nudged its residential, investor, and Orange Advantage package fixed home loan rates up to 15 basis points higher this week.
Its new best rate for owner occupiers is 6.19% p.a. (5.98% p.a. comparison rate*) for Orange Advantage borrowers with up to 80% LVR and fixing for two years.
ING's Orange Advantage customers get 0.10% off the advertised fixed rate.
Other fixed rate movers this week
As well as the final wash of 0.25% variable rate hikes hitting the market this week, there were around 20 lenders adjusting their fixed rates.
Here are some of the more notable movements:
- Bendigo Bank increased its fixed rate home loans by up to 26 basis points, along with its online brand Tiimely
- CommBank-owned Bankwest lifted the range of its fixed rates by up to 50 basis points
- Another Western Australian-based bank P&N raised its fixed home loan rates by up to 30 basis points
- Tasmanian-based Bank of Us hiked fixed rates by up to 45 basis points
- Another Tassie bank MyState Bank also increased its fixed rates by up to 50 basis points along with its merger partner Auswide Bank
- Greater Bank upped its fixed home loan rates by up to 30 basis points, following its Hunter partner Newcastle Permanent which lifted fixed rates up to 25 basis points last week
- Australian Military Bank raised its fixed home loan rates by up to 45 basis points
- Police Credit Union increased its fixed rates by up to 35 basis points
Is it too late to fix my home loan interest rate?
If all these fixed rate moves leave you wondering whether it's too late to consider fixing your home loan interest rate, our Should you fix your home loan interest rate? article may be able to help.
It's also worth noting fixed rate home loans can be something of a gamble for both lenders and borrowers.
As we've seen so far in 2026, the economic climate dictating cash rate movements can shift quickly and unexpectedly.
Even people who get paid to forecast interest rates find it a challenge.
What to consider
It's worth checking out some of the more competitive fixed home loan rates currently on the market and taking stock of your own circumstances.
It could be you'll end up paying a higher variable rate in the near term but pay less interest overall by making use of a linked offset account or making extra payments.
See also:
These options aren't always available with all fixed-rate home loan products which tend to be less flexible.
See also: How to choose between a fixed-rate and variable-rate home loan
If you are considering refinancing in what looks to be a rising interest rate market, be sure to consider whether the cost will be worth your while over the longer term.
See also:
- Refinancing costs calculator
- Refinancing a home loan: Pros & Cons
- How to refinance your home loan: A step-by-step guide
- Home loan cashback offers and deals: April 2026
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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 |
