Powered by MOMENTUM MEDIA
subscribe to our newsletter
ANZ increases fixed rates

ANZ increases fixed rates

The major lender has announced changes to its fixed rates on owner-occupier and investment loans, effective immediately.

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.

Advertisement
Advertisement

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

Investor loans

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).

ANZ increases fixed rates
mortgagebusiness

Charbel Kadib

Charbel Kadib is a journalist on the mortgages titles at Momentum Media.

Before joining the team in 2017, Charbel held roles with public relations agency Fifty Acres, and the Department of Communications and the Arts.

Charbel graduated from the University of Notre Dame Australia with a Bachelor of Arts (Politics & Journalism).

You can email Charbel on: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Latest News

A multinational non-bank lender has commenced operation in Australia in a bid to disrupt the domestic market as it seeks to service unmet de...

Expected monetary policy adjustments in overseas markets could make it easier for banks to pass on cuts to the cash rate from the RBA, accor...

Michael Andrew, a renowned tax and business leader, has passed away. ...

FROM THE WEB
podcast

LATEST PODCAST: Broker share and Westpac U-turn

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.