The largest cash rate increase in 22 years has left many stunned, with the big-four banks announcing increases to variable home loan rates.
Two of the big-four took the reins this week increasing fixed home loan rates, while Great Southern Bank increased both fixed and variable rates.
ANZ increased variable rate home loans for investors by 20 basis points, while AMP took the opposite approach for owner occupiers with a 15 basis point reduction.
Fixed home loan rates were not immune to the hiking frenzy this week with Macquarie and Bendigo leading the charge.
The lid is off on the first RBA cash rate increase in more than a decade, and the major banks all increased variable rates by 25 basis points.
The RBA is scheduled to announce its Cash Rate Target today at 2:30pm AEST. Here's what the experts are predicting.
With speculation rife that the RBA will increase the cash rate next week, banks such as HSBC, Citi and others moved ahead of the game.
As May edges closer with a potential RBA cash rate hike in tow, NAB has lifted fixed home loan rates by up to 80 basis points.
ANZ, Westpac and a host of other lenders have hopped at the chance to hike fixed home loan rates by up to 90 basis points.
The Commonwealth Bank increased fixed home loan rates across a wide range of products by up to 90 basis points.