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 29 March 2024
-
Mozo experts choice awards won:
- Exceptional Value Home Lender - 2024
Fixed Express Home Loan
Owner Occupier, Principal & Interest
interest rate
comparison rate
Initial monthly repayment5.99% p.a.
fixed 2 years6.14% p.a.Lock in a low 2 year fixed rate with the Mozo award winning Home Lender of the Year. Available for live-in borrowers with just a 10% deposit required. Free extra repayments (up to 20% in fixed period), free redraw and partial offset available. $10 monthly service fee.
CompareCompareFixed Express Home Loan
Lock in a low 2 year fixed rate with the Mozo award winning Home Lender of the Year. Available for live-in borrowers with just a 10% deposit required. Free extra repayments (up to 20% in fixed period), free redraw and partial offset available. $10 monthly service fee.
- interest rate
- 6.04% p.a.
fixed 3 years
- comparison rate
- 6.15% p.a.
- interest rate
- 6.04% p.a.
fixed 3 years
- comparison rate
- 6.15% p.a.
- upfront fees
- $134
- Ongoing fees
- $10.00 monthly
- Discharge Fee
- $350.00
- Extra repayments
- yes - up to 20% during the fixed period
- Redraw facility
- yes - free
- Offset account
- yes - partial only
- Maximum loan to value ratio
- 90.00%
- minimum borrowing amount
- $5,000
- maximum borrowing amount
- $3,000,000
- 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 Bendigo Bank Fixed Express Home Loan
-
Basic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR<70%
interest rate
comparison rate
Initial monthly repayment5.99% p.a.
fixed 3 years6.13% p.a.No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
CompareCompareBasic Home Loan
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
- interest rate
- 5.99% p.a.
fixed 3 years
- comparison rate
- 6.13% p.a.
- interest rate
- 5.99% p.a.
fixed 3 years
- comparison rate
- 6.13% 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
- 70.00%
- 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
-
Mozo experts choice awards won:
- Exceptional Value Home Lender - 2024
Fixed Express Home Loan
Owner Occupier, Interest Only
interest rate
comparison rate
Initial monthly repayment6.49% p.a.
fixed 2 years6.39% p.a.CompareCompareFixed Express Home Loan
- interest rate
- 6.54% p.a.
fixed 3 years
- comparison rate
- 6.38% p.a.
- interest rate
- 6.54% p.a.
fixed 3 years
- comparison rate
- 6.38% p.a.
- upfront fees
- $134
- Ongoing fees
- $10.00 monthly
- Discharge Fee
- $350.00
- Extra repayments
- yes - up to 20% during the fixed period
- Redraw facility
- yes - free
- Offset account
- yes - partial only
- Maximum loan to value ratio
- 90.00%
- minimum borrowing amount
- $5,000
- maximum borrowing amount
- $3,000,000
- type of mortgage
- Fixed
- Repayment types
- Interest Only
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Bendigo Bank Fixed Express Home Loan
-
Flex Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR 70-80%
interest rate
comparison rate
Initial monthly repayment5.99% p.a.
fixed 3 years6.41% 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
- 5.99% p.a.
fixed 3 years
- comparison rate
- 6.41% p.a.
- interest rate
- 5.99% p.a.
fixed 3 years
- comparison rate
- 6.41% 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
-
Fixed Rate Loan with Orange Advantage
Orange Advantage, Owner Occupiers, Principal & Interest, LVR <80%
interest rate
comparison rate
Initial monthly repayment6.09% p.a.
fixed 2 years6.16% p.a.Know exactly what your repayments will be, and you can fix your rate for up to 5 years. No monthly, annual fee or transaction fees. Free additional repayments (less than $10,000 p.a.). Valid for loans of $50,000 up to $2,000,000.
CompareCompareFixed Rate Loan with Orange Advantage
Know exactly what your repayments will be, and you can fix your rate for up to 5 years. No monthly, annual fee or transaction fees. Free additional repayments (less than $10,000 p.a.). Valid for loans of $50,000 up to $2,000,000.
- interest rate
- 5.99% p.a.
fixed 3 years
- comparison rate
- 6.12% p.a.
- interest rate
- 5.99% p.a.
fixed 3 years
- comparison rate
- 6.12% p.a.
- upfront fees
- $299
- Ongoing fees
- $0.00
- Discharge Fee
- $250.00
- Extra repayments
- yes - free up to $10,000 pa
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $50,000
- maximum borrowing amount
- $2,000,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the ING Fixed Rate Loan with Orange Advantage
-
Mozo experts choice awards won:
- Fixed Rate Home Loan - 2024
- Investor Fixed Home Loan - 2024
Fixed Rate Home Loan
Owner Occupier, Principal & Interest
interest rate
comparison rate
Initial monthly repayment5.99% p.a.
fixed 2 years6.24% p.a.Secure a low rate and enjoy the certainty of repayments, with the BCU Fixed Rate Home Loan. Save with no ongoing annual fees. Pay up to $25,000 extra during a fixed period (T&Cs apply). Lock in for up to 5 years.
CompareCompareFixed Rate Home Loan
Secure a low rate and enjoy the certainty of repayments, with the BCU Fixed Rate Home Loan. Save with no ongoing annual fees. Pay up to $25,000 extra during a fixed period (T&Cs apply). Lock in for up to 5 years.
- interest rate
- 6.29% p.a.
fixed 3 years
- comparison rate
- 6.30% p.a.
- interest rate
- 6.29% p.a.
fixed 3 years
- comparison rate
- 6.30% p.a.
- upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $395.00
- Extra repayments
- yes, up to $25,000 during fixed period - fee applies
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 95.00%
- minimum borrowing amount
- $20,000
- maximum borrowing amount
- $2,500,000
- 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 BCU Bank Fixed Rate Home Loan
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* 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.
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