The fixed rate rise continues as many lenders continue hiking fixed interest rates while cutting variable interest rates on mortgages.

Noteworthy increases include:

  • Fixed Options P&I 3 yrs 70%: Rose 30 basis points to 3.09% (comparison rate 4.26%)
  • Fixed Options P&I 5 yrs 70%: Rose 30 basis points to 3.59% (comparison rate 4.26%)
  • Investment Fixed P&I 3 yrs 70%: Rose 25 basis points to 3.34% (comparison rate 4.72%)

These increased rates apply to new lending with a maximum loan-to-value ratio of 70% for owner occupiers.

At the start of the year the three year fixed rate for owner occupiers was 2.29% p.a. (4.12% p.a. comparison rate*).

Westpac isn't the only bank to hike interest rates recently, with Suncorp and ME Bank increasing fixed interest rates by up to 62 basis points last month. 

The big four banks also tend to move in unison, with NAB, ANZ and CommBank making similar changes just over a week ago.

These also follow multiple rate hikes over September through November.

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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.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
$2,408
Principal & Interest
Variable
$0
$530
70%
 Featured Online ExclusiveUp To $4K Cashback
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
5.99% p.a.
5.90% p.a.
$2,396
Principal & Interest
Variable
$0
$0
80%
 Featured Apply In Minutes
  • 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.
6.14% p.a.
6.16% p.a.
$2,434
Principal & Interest
Variable
$0
$250
60%
 Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Image by Mathias Jensen via Unsplash



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