CBA increases fixed home loan rates by 5-20bp

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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-year2.59% p.a. (4.15% p.a. comparison rate*)
2-year2.84% p.a. (4.09% p.a. comparison rate*)
3-year3.24% p.a. (4.11% p.a. comparison rate*)
4-year3.54% p.a. (4.16% p.a. comparison rate*)
5-year3.79% 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 2021Feb 2022
1-year2.27%2.45%
2-year2.25%2.64%
3-year2.41%3.00%
4-year2.69%3.29%
5-year2.87%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

Search promoted home loans below or do a full Mozo database search. Advertiser disclosure
  • Mozo Expert Choice Badge
    Fixed Express Home Loan

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a.
    fixed 2 years
    6.14% 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.

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  • Basic Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR<70%

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a.
    fixed 3 years
    6.13% 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.

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  • Mozo Expert Choice Badge
    Fixed Express Home Loan

    Owner Occupier, Interest Only

    interest rate
    comparison rate
    Initial monthly repayment
    6.49% p.a.
    fixed 2 years
    6.39% p.a.

    Compare
    Details
  • Flex Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR 70-80%

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a.
    fixed 3 years
    6.41% 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.

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    Details
  • Fixed Rate Loan with Orange Advantage

    Orange Advantage, Owner Occupiers, Principal & Interest, LVR <80%

    interest rate
    comparison rate
    Initial monthly repayment
    6.09% p.a.
    fixed 2 years
    6.16% 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.

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    Details
  • Mozo Expert Choice Badge
    Fixed Rate Home Loan

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a.
    fixed 2 years
    6.24% 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.

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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

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