CommBank announced the second round of in-place increases to fixed rates. This is just one example of the many important moves that lenders have made over the last week.

These are among the most significant changes in CommBank’s recent hike:

  • Investment Fixed P&I 3 yrs – up by 60bps to 3.44% p.a. (4.82% p.a. Comparative rate
  • Investment Fixed IO for 3 Years – up by 40bps to 3.64% p.a. (4.88% p.a. Comparative rate
  • Residential Fixed P&I 3 yrs – up by 30bps to 3.14% p.a. (4.33% p.a. Comparison rate
  • Wealth Package Investment Fixed P&I 3 yrs 150k+60bps increase to 3.29 % p.a. (4.54% p.a. Comparative rate
  • Wealth Package Residential Fixed P&I 3 yrs 150k+– From 2.99% to 30bps per annum (4.05% p.a. (4.05% p.a.

CommBank projects the Reserve Bank of Australia will raise its interest rates as soon as November 2022.

86 400

After raising fixed rates recently, the 86400 decided that it would reduce its variable rates up to 30bps for investors.

These are just some of the major changes.

  • 60-70% Investment Own Home Loans– 30bps drop to 2.59% per annum (2.70% p.a. (2.70% p.a.
  • Investment Own Home Loan P&I 70-80%– Drop 20bps to 2.59 P.A. (2.87% p.a. Comparison rate
  • Investment Neat Home Loan P&I 70-80%25bps reduction to 2.34% per year (2.35% p.a. Comparison rate

Heritage Bank

Heritage Bank made several adjustments to its rates both for owners-occupiers and investors.

The lender reduced its fixed rate while decreasing its variable rates. The changes had the greatest impact on investors.

These are the best changes.

  • Variable Discount 150k+ 80%-90% – Drop 45bps to 2.4% per annum (2.49% p.a. Comparison rate
  • Investment Discount Variable P&I 150k+ 80-90%– Drop 50bps to 2.699% p.a. (2.74% p.a. Comparative rate
  • Home Advantage Residential Fixed 3 Years 150k+– Prices as low as 30bps and 2.59 p.a. (4.14% p.a. Comparative rate
  • Investment Fixed P&I 5 yrs– Up To 3.39% p.a. (4.51% p.a. (4.51% p.a.
  • Home Advantage Investment Variable I80-90% 150-249k– 3.24% per annum, or 54bps less (3.49% per annum). Comparison rate

Athena

Athena has increased the fixed rates it charges owners-occupiers who pay at different LVRs.

These are the most significant changes:

  • Fixed P&I 3 yrs ≤60%As high as 40bps and up to 3.39% p.a. (2.33% p.a. Comparative rate
  • Fixed P&I 3 yrs 60-70%– From 40bps to 3.4% per annum (2.36% p.a. Comparison rate
  • Fixed P&I 3 yrs 70-80% Maximum 40bps at 3.49% annum (2.40% per year). Comparison rate

Suncorp Bank

Suncorp Bank followed the trend towards increasing fixed rates while decreasing variable rates.

However, it did lower its 1-year fixed mortgage rate.

Here are some examples of these changes:

  • Back to Basics Better Together P&I 70-80% Special Offer – down 21bps to 2.02% p.a. (2.03% p.a. Comparative rate
  • Special Offer: Investment back to basics IO 70 – 80% – down 20bps to 2.69% p.a. (2.55% p.a. Comparative rate
  • Fixed P&I 1 yr – down 14bps to 2.44% p.a. (4.92% p.a. Comparative rate
  • Investment Fixed P&I 1 yr – down 24bps to 2.79% p.a. (5.35% p.a. Comparative rate
  • Fixed P&I 3 yrs – up 52bps to 3.14% p.a. (4.68% p.a. Comparison rate
  • Investment Fixed P&I 3 yrs – 31bps – 3.24% p.a. (5.01% p.a. Comparative rate

ME Bank

ME Bank has lowered its variable rates in its Member Package Flexible Loan Line-up.

The lender also adjusted its fixed rates in response to an increase of up to 30bps

These are just a few of the new changes.

  • Member Package Flexible Home Loan OO P&I 60-70% 150-399k – down 34bps to 2.29% p.a. (2.75% p.a. Comparison rate
  • Member Package Flexible Fixed OO 2 yrs P&I – up 29bps to 2.18% p.a. (2.74% p.a. Comparative rate
  • Flexible Fixed OO 3 yrs P&I – up 30bps to 2.69% p.a. (3.91% p.a. Comparative rate
  • Member Package Inv Flexible Fixed 3 yrs P&I – up 30bps to 2.79% p.a. (3.60% p.a. Comparative rate

IMB Bank

IMB Bank reduced the variable rate it charges owner occupiers, and increased its fixed rates for investors. These are the major changes:

  • Budget Home Loan P&I ≤80%– – 5bps down, 2.19% per annum (2.25% p.a. Comparison rate
  • Investment Fixed P&I 3 yrs – up 19bps to 2.54% p.a. (3.37% p.a. Comparison rate

Qudos Bank

Qudos Bank has changed its fixed and variable rates. These are some examples of the changes:

  • Investment Fixed P&I 3 yrs 80%– 40bps to 2.99% per year (3.03% p.a. Comparison rate
  • Owner Occupied Fixed P&I 3 yrs 80%– 30bps upto 2.49% per year (2.49% p.a. Comparison rate
  • Low Cost Home Loan Owner Occupied P&I 80%– 10bps reduction to 2.49% per annum (2.49% p.a. Comparison rate
  • No Frills Home Loan P&I 80%– 10bps drop to 2.29% per anum (2.29% annually). Comparison rate

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