Tag Archives: fixed

Westpac and ANZ lift fixed rates

Westpac and ANZ have both lifted fixed rates again, as the cost of fixed-rate funding continues to surge. After increasing fixed rates on April 7, Westpac hiked its rates again for a second time in a week. While the majority of the changes from Australia’s second-largest lender were hikes, the bank has also […]

CBA hikes fixed rates

Australia’s largest bank has increased its fixed rates for the fourth time this year. The Commonwealth Bank of Australia (CBA) has lifted fixed rates by up to 0.5 percentage points for owner-occupiers paying principal and interest, but all the way up to 0.9 percentage points for some investors. RateCity.com.au compiled CBA fixed rate […]

Two and five-year fixed rates closest in nine years

The average two-year fixed rate was revealed as 2.86% for April and is the highest since June 2015 after increasing by 0.21% since last month. The five-year fixed rate totalled 3.01%, the highest since October 2016 when it stood at 3.02%, following a 0.13% month-on-month increase. The report also revealed that the average two-year tracker […]

30-year fixed mortgage crosses 5%

  The average rate on the popular 30-year fixed mortgage just crossed 5%, now standing at 5.02%, according to Mortgage News Daily. This is the first time it has crossed that threshold since 2011, save two days in 2018. It stood at 3.38% one year ago today.  Mortgage rates, which follow loosely the yield on […]

Fixed vs variable – broker weighs pros and cons

The Reserve Bank announced the official cash rate would remain the same on Tuesday with variable rates continuing to sit at record lows.  However, fixed rates are rising amongst the major banks, confusing some Australian consumers. Sam Ayliffe (pictured) is the owner and principal of brokerage Astute Financial Manly. He said the broker channel was […]

Westpac hikes fixed rates

Australia’s second largest bank has hiked fixed rates for the ninth time in the last six months. Westpac lifted fixed rates for owner-occupiers and investors by up to 0.3 percentage points. RateCity.com.au compiled Westpac’s home loan rate changes for owner-occupiers: Rate type Old rate […]

NAB and ANZ lift fixed rates again

Major banks NAB and ANZ have increased their fixed rates by 0.4 percentage points. This was the seventh time NAB has hiked rates in the last six months and the sixth time for ANZ. The big bank moves also came after Geelong Bank took off the table the last two-year fixed rate under 2% RateCity.com […]

CBA cuts lowest variable rate, hikes fixed rates again

Commonwealth Bank of Australia, the nation’s largest bank, has now slashed its lowest variable rate by 0.1% to 2.19%, following similar moves from Westpac, NAB, and ANZ. Just last week, Westpac cut its lowest variable rate, while NAB and ANZ trimmed theirs on March 9 and Feb. 8, respectively. Westpac had the lowest […]

Westpac slashes lowest variable, as its fixed rates soar

Westpac has been the latest big four bank to slash its lowest variable rate, heating up competition in variable home loan rates. The move follows NAB trimming its basic variable rate on March 9 and ANZ on Feb. 8. Westpac’s lowest variable rate is now an “ultra-competitive” 2.09% for people with a 30% deposit, while […]