anz-increases-fixed-rates.jpg

ANZ has recently made some changes to its fixed and variable rates, despite the rate-hike pause this month.

ANZ followed CommBank’s move in raising the three-year fixed rates for both owner-occupiers and investors. Here are the changes: 

ANZ Fixed-Rate Product

Change

Advertised Rate (p.a)

Comparison Rate (p.a.)

Residential Fixed 3 yrs ≤80%

-60 bps

5.49%

6.21%

Residential Fixed 3 yrs 80-90%

-60 bps

5.54%

6.37%

Residential Fixed IO 3 yrs ≤80%

-50 bps

5.69%

6.27%

Residential Fixed IO 3 yrs 80-90%

-50 bps

5.74%

6.43%

Investment Fixed 3 yrs ≤80%

-50 bps

5.69%

6.69%

Investment Fixed 3 yrs 80-90%

-50 bps

5.74%

6.85%

Investment Fixed IO 3 yrs ≤80%

-50 bps

5.79%

6.73%

Investment Fixed IO 3 yrs 80-90%

-50 bps

5.84%

6.88%

These recent moves by CommBank and ANZ are expected to compel NAB and Westpac to start cutting their three-year fixed rates soon.

Meanwhile, ANZ raised its special-offer variable rates under the Simplicity Plus product line by 10 basis points. The changes apply to both owner-occupiers and investors.

Here are the updated variable rates under ANZ’s Simplicity Plus offer:

ANZ Simplicity Plus Product

Advertised Rate (p.a.)

Comparison Rate (p.a.)

Owner-Occupier P&I <60% Special Offer

5.54%

5.55%

Owner-Occupier P&I <70% Special Offer

5.59%

5.60%

Owner-Occupier P&I 70-80% Special Offer

5.69%

5.70%

Investment P&I <60% Special Offer

5.74%

5.75%

Investment P&I <70% Special Offer

5.79%

5.80%

Investment P&I 70-80% Special Offer

5.89%

5.90%

Investment IO <60% Special Offer

6.09%

5.89%

Investment IO <70% Special Offer

6.14%

5.94%

Investment IO 70-80% Special Offer

6.24%

6.04%

Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Rates
Features
Fees
Other
Lender
Variable
More details
Online ExclusiveUp to $4k cashbackINCLUDES NOV RBA RATE INCREASE
  • Immediate cashback upon settlement
  • $2000 for loans up to $700,000
  • $4000 for loans over $700,000
Online ExclusiveUp to $4k cashbackINCLUDES NOV RBA RATE INCREASE

Variable Basic Cashback Home Loan (Principal and Interest) (LVR < 70%)

  • Immediate cashback upon settlement
  • $2000 for loans up to $700,000
  • $4000 for loans over $700,000
More details
Variable
More details
  • Up is 100% owned by Bendigo Bank.
  • Up to 50 offset accounts
  • New joiners get $10 by signing up to the app using code UPHOMEYM. (T&Cs apply)

Up Home Variable (Principal & Interest) (LVR ≤ 90)

  • Up is 100% owned by Bendigo Bank.
  • Up to 50 offset accounts
  • New joiners get $10 by signing up to the app using code UPHOMEYM. (T&Cs apply)
More details
Variable
More details

Variable Rate Home Loan – Refinance Only

    More details
    • Immediate cashback upon settlement
    • $2000 for loans up to $700,000
    • $4000 for loans over $700,000

    More details
    Important Information and Comparison Rate Warning

    Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of December 7, 2023.

    -

    Photo by April Benjamin 

    Collections: