June RBA hold: which banks have increased home loan rates

By Jack Dona and Cameron Thomson
Fact Checked
Advertiser disclosure
people jumping off towers as the rba cash rate goes up

The Reserve Bank Australia has held the cash rate at 4.35%.

With each change to the cash rate last year, lenders raised or lowered their variable home loan rates in kind. Many economists still expect at least one rate cut by the end of the year, so it remains to be seen whether providers will hold steady until then or begin cutting early. We'll also keep an eye out in case any savings and term deposit rates change during this part of the cycle.

Which lenders have moved on home loan interest rates?

To help you keep track of the home loan interest changes from major banks and lenders, this page will be regularly updated with the size of the increase and when it will come into effect.

Below, we’ve also included a snapshot of the average owner occupier^ home loan rates in Mozo’s database as of 18 June 2024 for reference. 

Loan TypeAverage
Variable6.80% p.a.
1-year fixed6.48% p.a.
2-year fixed6.35% p.a.
3-year fixed6.28% p.a.
4-year fixed6.51% p.a.
5-year fixed6.53% p.a.

The Big Four

woman picking up a green block for banks rba hikes

ANZ

  • TBA
    • The Standard Variable Rate (Owner Occupier, Principal & Interest, LVR <80%) ANZ account is 7.24% p.a. (7.25% p.a. comparison rate) since the RBA paused.
    • ANZ increased its simplicity PLUS home loan is currently 6.64% p.a. (6.64% p.a. comparison rate).

Last hike: ANZ increased variable interest rates for home, residential investment and line of credit loans by 0.25% on the 17th of November

CBA

  • TBA
    • The Standard Variable Rate (Owner Occupier, Principal & Interest) CBA home has continued with a rate of 8.80% p.a. (8.95% p.a. comparison).

Last hike: CBA hiked its variable rate home loans by 25 basis points on the 17th November 

NAB

Current Rate hold:

  • TBA
    • The NAB Base Variable Rate Home Loan (Owner Occupier, Principal & Interest) current interest rate sits at 6.84% p.a. (6.88% comparison rate), no change. 

Last hike: NAB increased its standard variable interest rate home loans by 0.25% on the 17th of November.

Westpac

Current Rate hold:

  • TBA
    • The Westpac Flexi First Option Home Loan (Principal & Interest, 70-80% LVR) has kept an interest rate of 8.18% p.a. (8.18% comparison rate).

Last hike: Westpac a hike new and existing variable interest rate home loans by 0.25% on the 21st of November.

Major lenders

girl picking pink blocks

Keep an eye on this page for rate movements from some of the major lenders as they come in.

AMP

  • TBA
    • AMP Bank's Variable Rate Loan (Owner Occupier, Principal & Interest, LVR <80%) (Basic Package) has remained at a rate of 7.34% p.a. (7.39% p.a. comparison rate).

Last hike: AMP announced that an increase of 25 basis points for owner-occupier and investor home loans, effective 10 November for new customers and 13 November for existing.

Australian Military Bank

  • TBA
    • Australian Military Bank's Standard Variable Home Loan maintains a rate of 6.98% p.a. (7.02% p.a. comparison rate)

Last hike: Variable owner-occupier and investment home loans rose by 25 basis points on 21 November

Auswide Bank

  • TBA
    • Auswide Bank's Basic Home Loan (Owner Occupier, LVR 70-80%) continues to hold its rate at 6.19% p.a. (6.22% p.a. comparison rate)

Last hike: Auswide home loans increased 25 basis points from the 14 November

Bank Australia 

  • TBA
    • Bank Australia's Basic Home Loan (Owner Occupier, LVR<80%) has held at a rate of 6.14% p.a. (6.19% p.a. comparison rate).

Last hike: Bank Australia hiked variable rates for owner-occupiers and investors on 21 November.

Bank SA/Bank of Melbourne/St. George 

  • TBA
    • Bank SA's Standard Variable Home Loan (Owner Occupier, 70%-80% LVR) maintains a rate of 8.80% p.a. (8.94% p.a. comparison rate).
    • Bank of Melbourne's Standard Variable Home Loan (Owner Occupier, LVR 70-80%)
      has kept an interest rate of 8.79% p.a. (8.93% p.a. comparison rate).
    • St.George's Basic Home Loan Special Offer (Owner Occupier, LVR 70-80%) has a held at a rate of 6.39% p.a. (6.40% p.a. comparison rate).

Last hike: BankSA, Bank of Melbourne, and St. George increased variable rate home loans by 25 basis points on 21 November

BoQ

  • TBA
    • Bank of Queensland Clear Path Variable Rate Home Loan (Owner Occupier) maintains a rate of 8.24%p.a. (8.35% p.a. comparison rate)

Last hike: Bank of Queensland will lift its variable rate home loans by 25 basis points on 10 November

Bankwest

  • TBA
    • Bankwest's Simple Home Loan (Owner Occupier, LVR 60-80%) is currently 6.34% p.a. (6.36% p.a. comparison rate).

Last hike: Bankwest increased its standard variable rate home loans by 0.25% p.a. on 17 November

Bendigo Bank

  • TBA
    • Bendigo Bank's Complete Home Loan (Owner Occupier, 60-80% LVR) has remained at a rate of 6.24% p.a. (6.46% p.a. comparison rate)

Last hike: Bendigo Bank increased its variable rate home loans by 25 basis points on 17 November

Greater Bank

  • TBA
    • Greater Bank's Great Rate Home Loan (Owner Occupier) maintains a rate of 7.86% p.a. (7.88% p.a. comparison rate)

Last hike: Greater bank hiked home loans 25 basis points from the 17 November.

HSBC

  • TBA
    • The HSBC Standard Variable Rate Home Loan (Owner Occupier, Principal & Interest, LVR 70-80%) (Home Loan Package) is 6.19% p.a. (6.56% p.a. comparison rate)

Last hike: HSBC raised rates on a range of variable home loan by 25 basis points on 27 November.

ING

  • TBA
    • ING has a rate on it's Mortgage Simplifier (LVR<80%, Owner Occupier, Principal & Interest) of 6.14% p.a. (6.17% p.a. comparison rate).

Last hike: ING hiked its variable home loan rates for new and existing customers by 25 basis points from 14 November.

Macquarie Bank

  • TBA
    • Macquarie Bank's Basic Home Loan (Owner Occupier, LVR<80%, Principal & Interest) has a rate of 6.19% p.a. (6.21% p.a. comparison rate).

Last hike: Macquarie Bank announced a 25 basis point increase to its variable rate home loans from 17 November 2023. 

ME 

  • TBA
    • ME's Basic Home Loan (Owner Occupier, LVR<80%) has a current rate of 6.17% p.a. (6.19% p.a. comparison rate)

Last hike: ME raised its variable rate home loans by 0.25% p.a. on 11 November 2023.

Newcastle Permanent 

  • TBA
    • Newcastle Permanent Variable Home Loan (Owner Occupier, Principal & Interest) (Premium Plus Package) has maintained a rate of 8.02% p.a. (8.34% p.a. comparison rate).

Last hike: Home loan rates raised 25 basis points on 17 November.

RAMS

  • TBA
    • RAMS' Essential Home Loan (Owner Occupier, LVR 70-80%) has maintained an interest rate of 6.19% p.a. (6.26% p.a. comparison rate).

Last hike: RAMS increases its variable home loans by 0.25% p.a. for new and existing customers on 21 November

Suncorp

  • TBA
    • Suncorp's Back to Basics Special (LVR 70-80%, Owner Occupier, Principal & Interest) has remained unchanged at 6.14% p.a. (6.15% p.a. comparison rate).

Last hike: Rates were cut by 5 basis points on 24 April 2024

Virgin Money

  • TBA
    • Virgin Money's Reward Me Variable Rate Home Loan (Owner Occupier, LVR 60-80%) has held a rate of 6.44% p.a. (6.58% p.a. comparison rate).

Last hike: Virgin Money increased variable rate home loans by 25 basis points on 10 November

Home loan comparisons on Mozo

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can compare more home loans here.
Last updated 27 July 2024 Important disclosures and comparison rate warning*

Promoted

  • Unloan Variable

    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.90 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • Basic Home Loan

    • Owner Occupier
    • LVR<60%
    • Principal & Interest
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.16 % p.a.
    Initial monthly repayment
    $3,043
    Go to site

    Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.

  • Neat Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

  • Special Real Deal Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <80%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.13 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Refinancers or first home buyers pay no monthly or annual fees. Up to $3,000 cashback when you complete your home loan application online. $2,000 cashback on loans ≥$250K; or $3,000 cashback on loans ≥$500K. LVR ≤80%. T&Cs and credit criteria apply.

  • Optimum Fixed Rate Home Loan

    • Owner Occupier
    • Principal & Interest
    Interest rate
    5.69 % p.a.
    Fixed 3 years
    Comparison rate
    6.34 % p.a.
    Initial monthly repayment
    $2,899
    Go to site

    Lock in a competitive interest rate and enjoy peace of mind for the fixed period. Available for owner occupied new and refinanced home loans with at least 20% deposit. Split option available as well as offset and redraw. Noapplication, ongoing or banking fees. Third Party fees may be applicable - payable within loan repayments. Extra repayments up to $20K per annum permitted. Apply online, 100% member owned credit union.

  • Unloan Variable

    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.90 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • OMG Home Loan

    • Owner Occupier
    • Principal & Interest
    • <60% LVR
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    6.02 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.

  • Flex Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    5.99 % p.a.
    Fixed 3 years
    Comparison rate
    6.34 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

  • Express Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <90%
    Interest rate
    6.01 % p.a.
    Variable
    Comparison rate
    6.14 % p.a.
    Initial monthly repayment
    $3,001
    Go to site

    Get online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.

  • Neat Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

  • Special Real Deal Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <80%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.13 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Refinancers or first home buyers pay no monthly or annual fees. Up to $3,000 cashback when you complete your home loan application online. $2,000 cashback on loans ≥$250K; or $3,000 cashback on loans ≥$500K. LVR ≤80%. T&Cs and credit criteria apply.

  • Basic Home Loan

    • Owner Occupier
    • LVR<60%
    • Principal & Interest
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.16 % p.a.
    Initial monthly repayment
    $3,043
    Go to site

    Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.

  • Flex Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.38 % p.a.
    Initial monthly repayment
    $3,043
    Go to site

    Competitive variable rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

  • Offset Home Loan

    • Owner Occupier
    • LVR<60%
    • Principal & Interest
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.39 % p.a.
    Initial monthly repayment
    $3,043
    Go to site

    Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.

  • Basic Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR<70%
    Interest rate
    6.25 % p.a.
    Fixed 3 years
    Comparison rate
    6.20 % p.a.
    Initial monthly repayment
    $3,079
    Go to site

    No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $10,000,000.

  • Offset Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR <70%
    Interest rate
    6.25 % p.a.
    Fixed 3 years
    Comparison rate
    6.42 % p.a.
    Initial monthly repayment
    $3,079
    Go to site

  • Fixed Rate

    • Owner Occupier
    • Principal & Interest
    • <80% LVR
    Interest rate
    6.54 % p.a.
    Fixed 2 years
    Comparison rate
    7.10 % p.a.
    Initial monthly repayment
    $3,174

    Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.

image of houses

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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.

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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.

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