CBA increases fixed home loan rates by 5-20bp
For the fourth time since November, the Commonwealth Bank has lifted interest rates on a number of its fixed home loans, this time by between five and 20 basis points.
Coming into effect today, the changes will impact rates on both owner occupier and investor loans, including the bank’s Fixed Rate Home Loan and Fixed Rate Home Loan (Wealth Package).
That means the lowest advertised fixed rates on offer from CBA are now the following which are available on the Fixed Rate Home Loan (Wealth Package). Note, these are for owner occupier borrowers with a loan-to-value ratio (LVR) below 95%.
| 1-year | 2.59% p.a. (4.15% p.a. comparison rate*) |
| 2-year | 2.84% p.a. (4.09% p.a. comparison rate*) |
| 3-year | 3.24% p.a. (4.11% p.a. comparison rate*) |
| 4-year | 3.54% p.a. (4.16% p.a. comparison rate*) |
| 5-year | 3.79% p.a. (4.24% p.a. comparison rate*) |
The Commonwealth Bank is hardly alone in upping its fixed rates though. ING increased a number of fixed and variable home loan rates today, while fellow major bank Westpac lifted its own fixed rates in late January.
In fact, since November, 78 providers being tracked in the Mozo database have increased over 2,800 individual fixed mortgage rates in total.
Unsurprisingly, these rate hikes have had a significant impact on the average fixed rates available for owner occupiers - particularly on longer terms.
Average fixed rates for owner occupiers (<80% LVR) - Mozo database
| Nov 2021 | Feb 2022 | |
| 1-year | 2.27% | 2.45% |
| 2-year | 2.25% | 2.64% |
| 3-year | 2.41% | 3.00% |
| 4-year | 2.69% | 3.29% |
| 5-year | 2.87% | 3.45% |
RELATED: Home loan rate check: How do ANZ, CBA, NAB and Westpac compare?
Thinking about bringing yourself some repayment certainly by locking in your own mortgage rate?
Use our handy fixed rate home loan comparison tables to compare a range of offers on interest rates, fees, features and more. Or start browsing straight away with the great offers featured in the table below.
Compare fixed home loans - last updated 3 December 2023
-
Home Fixed Rate
Owner Occupier, Principal & Interest, Refinance Only
interest rate
comparison rate
Initial monthly repayment6.40% p.a.
fixed 4 years6.24% p.a.Enjoy the security of a competitive fixed interest rate from Up. No application, monthly, annual, redraw, or discharge fees to pay. Up to 50 free offset accounts available. Up home loans are only available to owner-occupiers buying or refinancing in major Australian cities. Up is 100% owned by Bendigo Bank. New joiners get $10 by signing up to the app using code UPHOMEMOZO. (T&Cs apply). Mozo Experts Choice award winner.
CompareCompareHome Fixed Rate
Enjoy the security of a competitive fixed interest rate from Up. No application, monthly, annual, redraw, or discharge fees to pay. Up to 50 free offset accounts available. Up home loans are only available to owner-occupiers buying or refinancing in major Australian cities. Up is 100% owned by Bendigo Bank. New joiners get $10 by signing up to the app using code UPHOMEMOZO. (T&Cs apply). Mozo Experts Choice award winner.
- interest rate
- 6.40% p.a.
fixed 3 years
- comparison rate
- 6.22% p.a.
- interest rate
- 6.40% p.a.
fixed 3 years
- comparison rate
- 6.22% p.a.
- upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - up to $30,000
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 90.00%
- minimum borrowing amount
- $50,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Up Home Fixed Rate
-
Flex Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR <80%
interest rate
comparison rate
Initial monthly repayment6.64% p.a.
fixed 3 years6.56% p.a.Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 20% deposit required.
CompareCompareFlex Home Loan
Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 20% deposit required.
- interest rate
- 6.64% p.a.
fixed 3 years
- comparison rate
- 6.56% p.a.
- interest rate
- 6.64% p.a.
fixed 3 years
- comparison rate
- 6.56% p.a.
- upfront fees
- $250
- Ongoing fees
- $250.00 yearly
- Discharge Fee
- $300.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- -
- maximum borrowing amount
- -
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the ubank Flex Home Loan
-
Basic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR 70-80%
interest rate
comparison rate
Initial monthly repayment6.65% p.a.
fixed 2 years6.31% p.a.Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
CompareCompareBasic Home Loan
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
- interest rate
- 6.65% p.a.
fixed 3 years
- comparison rate
- 6.35% p.a.
- interest rate
- 6.65% p.a.
fixed 3 years
- comparison rate
- 6.35% p.a.
- upfront fees
- $350
- Ongoing fees
- $0.00
- Discharge Fee
- $400.00
- Extra repayments
- yes - up to $10,000 p.a.
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Macquarie Basic Home Loan
-
Basic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR 70-80%
interest rate
comparison rate
Initial monthly repayment6.65% p.a.
fixed 2 years6.31% p.a.Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
CompareCompareBasic Home Loan
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
- interest rate
- 6.65% p.a.
fixed 3 years
- comparison rate
- 6.35% p.a.
- interest rate
- 6.65% p.a.
fixed 3 years
- comparison rate
- 6.35% p.a.
- upfront fees
- $350
- Ongoing fees
- $0.00
- Discharge Fee
- $400.00
- Extra repayments
- yes - up to $10,000 p.a.
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Macquarie Basic Home Loan
-
Flex Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR <80%
interest rate
comparison rate
Initial monthly repayment6.64% p.a.
fixed 2 years6.52% p.a.Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 20% deposit required.
CompareCompareFlex Home Loan
Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 20% deposit required.
- interest rate
- 6.64% p.a.
fixed 3 years
- comparison rate
- 6.56% p.a.
- interest rate
- 6.64% p.a.
fixed 3 years
- comparison rate
- 6.56% p.a.
- upfront fees
- $250
- Ongoing fees
- $250.00 yearly
- Discharge Fee
- $300.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- -
- maximum borrowing amount
- -
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the ubank Flex Home Loan
-
Basic Home Loan
Fixed, Investment, Principal & Interest, LVR 70-80%
interest rate
comparison rate
Initial monthly repayment6.79% p.a.
fixed 3 years6.57% p.a.Lock in repayments from 1 to 5 years. Competitive rate tiers depending on your LVR. No application or annual fee. Fast, secure online application.
CompareCompareBasic Home Loan
Lock in repayments from 1 to 5 years. Competitive rate tiers depending on your LVR. No application or annual fee. Fast, secure online application.
- interest rate
- 6.79% p.a.
fixed 3 years
- comparison rate
- 6.57% p.a.
- interest rate
- 6.79% p.a.
fixed 3 years
- comparison rate
- 6.57% p.a.
- upfront fees
- $350
- Ongoing fees
- $0.00
- Discharge Fee
- $400.00
- Extra repayments
- yes - up to $10,000 p.a.
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Investor
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Macquarie Basic Home Loan
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
^See information about the Mozo Experts Choice Home Loan Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.