ANZ Bank has increased interest rates by up to 20 basis points on its fixed home loans and fixed residential investment loans.
Fixed rates on owner-occupier, principal and interest fixed home loans have risen by 10 basis points for one, three, four and five-year loans, while the two-year fixed home loan has risen by 11 basis points.
As such, the rates have increased from:
One year: 4.14 per cent to 4.24 per cent
Two years: 4.03 per cent to 4.14 per cent
Three years: 4.14 per cent to 4.24 per cent
Four years: 4.54 per cent to 4.64 per cent
Five years: 4.64 per cent to 4.74 per cent
ANZ has also increased fixed rates on owner-occupier interest-only fixed home loans by the same amount. These loans have increased from:
One year: 4.64 per cent to 4.74 per cent
Two years: 4.53 per cent to 4.64 per cent
Three years: 4.64 per cent to 4.74 per cent
Four years: 5.04 per cent to 5.14 per cent
Five years: 5.14 per cent to 5.24 per cent
Fixed rates on principal and interest residential investment loans have risen more substantially.
The rates jumped by 20 basis points, meaning the interest rates for principal and interest repayments range from 4.54 per cent (for two-year fixed residential investment loans) to 5.14 per cent (for five-year fixed residential investment loans).
Amid a crackdown on interest-only investment loans, ANZ has hiked fixed rates on their fixed investment loans with interest-only repayments.
One-year loans have risen by 10 basis points, to start from 4.94 per cent, while the five-year loan has gone up by 20 basis points to 5.54 per cent.
Fixed rates on “interest in advance” residential investment loans have also risen, bringing rates to between 4.51 per cent (for one-year loans) and 5.34 per cent (for five-year loans).