53 Banks Increase Fixed Rates Amid Variable Hikes: Complete List
Homebuyers and those considering refinancing face significant changes in the lending landscape. Recently, 53 Australian banks have raised fixed home loan rates, while two lenders have made unexpected hikes in variable rates. This shift comes ahead of the Reserve Bank of Australia’s (RBA) upcoming monetary policy meeting on February 3, 2026.
Recent Developments in Home Loan Rates
Since the RBA’s last board meeting on December 9, 2025, over 50 lenders have increased fixed home loan rates. Notably, the four largest banks have raised rates by as much as 70 basis points. According to Canstar data, this indicates a widespread repricing among lenders.
Variable Rate Increases
In the past week, Heritage Bank and People’s Choice have raised variable rates for owner-occupiers and investors. These increases average 0.1 points, reflecting a significant change in the current lending environment.
Future Outlook on Interest Rates
The RBA’s last rate hike occurred on November 7, 2023, increasing the cash rate by 25 basis points to 4.35%. This was prompted by ongoing inflation above the target range of 2-3%. Inflation currently stands at 3.4%, down from 3.8% in October, but still above the RBA’s desired levels.
Market Reactions
Experts indicate that lenders are reacting preemptively to potential future increases. The Commonwealth Bank notably raised its three-year fixed rate by 70 basis points to 6.04% on January 15, resulting in larger monthly payments for borrowers. Macquarie Bank also raised its rates by 0.25%, marking its second increase in six weeks.
Key Insights for Borrowers
- Only 12 lenders are currently offering fixed rates below 5%, a sharp decline from over 40 three months ago.
- Borrowers should evaluate their home loans and consider negotiating for better rates, as disparities in offers are widening among lenders.
- Stress testing household budgets is crucial for borrowers to ensure they can handle potential future increases.
Potential Rate Hikes
Analysts predict a possible increase of 0.25% at the February meeting, with ongoing discussions about future hikes as inflation data is released. The upcoming quarterly inflation results on January 28 will be pivotal in shaping these decisions.
Impact on Mortgage Payments
According to Canstar calculations, a 0.25% rate hike could add significant costs to monthly mortgage repayments:
| Loan Amount | Monthly Increase |
|---|---|
| $600,000 | $90 |
| $750,000 | $112 |
| $1,000,000 | $150 |
As the market adjusts, borrowers should remain vigilant and informed about their options. The landscape is changing quickly, making due diligence essential for homeowners and potential buyers alike.
Complete List of Lenders Increasing Rates
As of January 21, 2026, the following lenders have increased their fixed home loan rates:
- ANZ
- Aussie
- Australian Military Bank
- Bank of Melbourne
- Commonwealth Bank
- Heritage Bank
- Westpac
- Macquarie Bank
- Plus many others
This comprehensive overview emphasizes the need for borrowers to stay informed and proactive as the market evolves. For further updates and details, visit Filmogaz.com.
