ANZ and Westpac continued the trend of increasing fixed rates over the past week.
These moves build on similar movements the two major lenders made over the past month.
Several other lenders also made changes to its rates over the past week. Below are some of the biggest movers:
Westpac
Westpac rolled out another set of hikes for its fixed rates across owner-occupier and investor offerings.
This followed a similar move by Westpac last month.
Rates for the standard and package products were affected by the recent move. Here are some of the biggest changes:
|
Westpac Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Fixed Options P&I 3 yrs 70% |
+30bps |
3.09% p.a. |
4.26% p.a. |
|
Fixed Options P&I 3 yrs 95% |
+30bps |
3.19% p.a. |
4.35% p.a. |
|
Investment Fixed P&I 3 yrs 80% |
+25bps |
3.44% p.a. |
4.82% p.a. |
|
Premier Advantage Fixed Options P&I 3 yrs 95% 150k+ |
+30bps |
2.99% p.a. |
3.63% p.a. |
|
Premier Advantage Investment Fixed P&I 3 yrs 70% |
+25bps |
3.14% p.a. |
3.99% p.a. |
ANZ
After lowering its variable rates last month, ANZ made some major changes to its fixed rates for both owner-occupiers and investors.
|
ANZ Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Breakfree Investment Fixed IO 5 yrs ≤80% |
+50bps |
4.09% p.a. |
4.16% p.a. |
|
Breakfree Investment Fixed 5 yrs 80-90% |
+40bps |
3.84% p.a. |
4.22% p.a. |
|
Residential Fixed 3 yrs ≤80% |
+20bps |
3.14% p.a. |
4.13% p.a. |
|
Residential Fixed 5 yrs 80-90% |
+40bps |
3.79% p.a. |
4.22% p.a. |
Aussie
Aussie rolled out several changes to its variable and fixed-rate products.
The lender slashed its variable rates across the available LVR tiers while boosting its fixed rates.
Interestingly, Aussie decreased its one-year fixed rates for owner occupiers. Below are some of the major changes:
|
Aussie Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Select Basic Variable PI 70-80% |
-30bps |
1.99% p.a. |
2.01% p.a. |
|
Select Basic Fixed PI 5 yrs 70-80% |
+55bps |
3.29% p.a. |
2.51% p.a. |
|
Select Basic Fixed PI 1 yr 70-80% |
-15bps |
2.04% p.a. |
2.01% p.a. |
|
Inv Select Basic Variable PI 70-80% |
-5bps |
2.44% p.a. |
2.46% p.a. |
BankSA
BankSA increased its residential and investment fixed rates across its standard and Advantage Package mortgage products.
|
BankSA Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Residential Fixed P&I 2 yrs |
+30bps |
2.74% p.a. |
4.39% p.a. |
|
Advantage Package Residential Fixed P&I 3 yrs 150k+ |
+20bps |
2.99% p.a. |
3.60% p.a. |
|
Investment Fixed P&I 3 yrs |
+25bps |
3.39% p.a. |
4.82% p.a. |
|
Advantage Package Investment Fixed P&I 3 yrs 150k+ |
+25bps |
3.24% p.a. |
4.07% p.a. |
UBank
UBank recently unveiled a limited-time sub-2% variable rate.
Its UHomeLoan P&I Discount Offer will have a variable rate of 1.99% p.a. (1.99% p.a. comparison rate), which will be available for applications received until 31 January 2022 that settle by 1 May 2022.
—
Photo by Jeremy Bishop on Unsplash.
Collections: Mortgage News Interest Rates
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