These lenders have hiked fixed-rate home loans in July

House rising

The RBA’s decision to pause rate hikes earlier this month has seen most lenders hold variable rate loans—or, in some cases, actually cut home loan rates. But banks have been a bit more cautious with fixed interest loans and, in some cases, have decided to lift rates.

While a lot of fixed rate home loans are currently sitting at the 6% and 7% range, the averages across all terms in the Mozo database are actually lower than the average variable home loan rate. For example, the average for a 2 year fixed interest loan is 6.20% while the average variable rate loan is 6.59%. 

Fixed Rate Average
Variable Average
1 Year
2 Year
3 Year
4 Year
5 Year
6.25%
6.22%
6.19%
6.44%
6.43%
6.59%

* Correct as of 25 July

Who has hiked fixed rate loans in July?

So far in July a couple of providers have raised their fixed rate loans, including some of the big four and a variety of major banks in the past week. 

The list below will be updated in case any other banks decide to raise fixed rate loans throughout July.   

The Big Four

  • Commonwealth Bank increased a wide range of fixed home loans with its 2 year fixed loan going from 6.69%, to 6.99% a hike of 30 basis points.  
  • ANZ hiked its fixed interest owner-occupier home loans with their 2 year rate rising from 5.99% up to 6.54%—an increase of 55 basis points. 
  • Westpac lifted a few of its fixed rate home loans with the Fixed Options Home Loan rising by 40 basis points for a two year term.
  • NAB hiked rates with the 2 year fixed term for the Tailored Home Loan increasing by 30 basis points

Major Banks & Challengers

  • Macquarie pushed up its fixed rate for owner-occupiers by 36 basis points.
  • HSBC hiked its 2 year fixed term for owner occupiers up by 20 basis points.
  • Suncorp raised rates for owner-occupiers (<80% LVR) across its standard and special offer fixed home loans.
  • Bank of Queensland lifted rates across multiple fixed rate loans with its 2 year Discounted Fixed Rate rising by 40 basis points. 
  • Virgin Money raised rates on the Reward Me Fixed Rate Home Loan by 60 basis points for both owner occupiers and investors across all terms.
  • ME Bank hiked the Flexible Home Loan rate by 40 basis points for its owner occupier loans.
  • Bank Australia increased  most of its owner-occupier rates by 10 basis points, with the 2 year Basic Home Loan for owner-occupiers rising from 5.74% to 5.84%.
  • BankSA hiked its 2 year Fixed Home Loan by 40 basis points for both investors and owner-occupiers
  • St George lifted the rate on its Fixed Home Loan with its 2 year loan rising by 40 basis points

Thinking of switching home loans? At Mozo, our database tracks a  wide range of home loan products from many of Australia’s lenders and banks so you can compare and find a suitable home loan for you. 

Home loan comparisons on Mozo - last updated 26 May 2024

Search promoted home loans below or do a full Mozo database search. Advertiser disclosure
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    interest rate
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    Initial monthly repayment
    5.99% p.a.
    fixed 2 years
    6.14% p.a.

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

    interest rate
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    Initial monthly repayment
    6.25% p.a.
    fixed 3 years
    6.20% p.a.

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    Fixed Express Home Loan

    Owner Occupier, Interest Only

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

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  • Flex Home Loan

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

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

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  • Fixed Rate Loan with Orange Advantage

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

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    Initial monthly repayment
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    fixed 2 years
    6.16% p.a.

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