Australia’s cash rate has been raised by another 25 basis points. See how this affects your home loan with Savings.com.au’s comprehensive list of home loan rate rise announcements.
The Reserve Bank of Australia (RBA) has lifted the cash rate by 25 basis points, taking it to 3.10%.
Savings.com.au will provide regular updates below of each lenders’ announcements regarding passing on this December 2022 rate hike to variable rate home loans.
All rate changes below refer to lenders’ responses to the RBA’s rate hike on 6 December 2022.
Keep updated.
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Key notes:
P&I = Principal and Interest, IO= Interest Only, OO=Owner-occupiers
Basis points explained: 1 basis point = 0.01%
Big-four home loan rate changes
ANZ
ANZ interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
- Announcement date: 06 December 2022
CommBank
CommBank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
- Announcement date: 06 December 2022
NAB
NAB interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
- Announcement date: 06 December 2022
Westpac
Westpac interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 20 December 2022
- Announcement date: 6 December 2022
Other lenders’ home loan rate changes
AMP interest rate rise
Athena interest rate rise
Australian Military Bank interest rate rise
Australian Unity interest rate rise
Auswide Bank interest rate rise
Bank Australia interest rate rise
Bank of Melbourne interest rate rise
Bank of Queensland (BOQ) interest rate rise
Bank of Sydney interest rate rise
Bankfirst interest rate rise
BankSA interest rate rise
BankVic interest rate rise
Bankwest interest rate rise
BCU interest rate rise
Bendigo Bank interest rate rise
Beyond Bank interest rate rise
Citi interest rate rise
Credit Union SA interest rate rise
Defence Bank interest rate rise
G&C Mutual Bank interest rate rise
Gateway Bank interest rate rise (pending)
Great Southern Bank interest rate rise
Greater Bank interest rate rise
Heritage Bank interest rate rise
Homeloans.com.au interest rate rise (pending)
Homestar Finance interest rate rise
Horizon Bank interest rate rise
HSBC interest rate rise
Hume Bank interest rate rise (pending)
IMB Bank interest rate rise
ING interest rate rise
Loans.com.au interest rate rise
Macquarie Bank interest rate rise
ME Bank interest rate rise
Mortgage House interest rate rise (pending)
MOVE Bank interest rate rise (pending)
MyState Bank interest rate rise
Nano interest rate rise
Newcastle Permanent interest rate rise
OneTwo Home Loans interest rate rise (pending)
P&N Bank interest rate rise
People’s Choice interest rate rise
Police Credit Union interest rate rise (pending)
QBank interest rate rise (pending)
Qudos Bank interest rate rise
RACQ Bank interest rate rise
RAMS interest rate rise (pending)
Reduce Home Loans interest rate rise (pending)
Resimac interest rate rise (pending)
St George interest rate rise
State Custodians interest rate rise (pending)
Suncorp interest rate rise
Teachers Mutual Bank interest rate rise (pending)
The Mutual Bank interest rate rise (pending)
Tic:Toc interest rate rise (pending)
Ubank interest rate rise (pending)
UniBank interest rate rise (pending)
Unloan interest rate rise (pending)
Virgin Money interest rate rise
Well home loans interest rate rise (pending)
Wlth interest rate rise (pending)
Yard interest rate rise (pending)
AMP interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022 for new customers, 19 December 2022 for existing customers
- Announcement date: 08 December 2022
Athena interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 08 December 2022
- Announcement date: 08 December 2022
Australian Military Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 20 December 2022
- Announcement date: 12 December 2022
Australian Unity interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 December 2022
- Announcement date: 15 December 2022
Auswide interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 December 2022
- Announcement date: 08 December 2022
Bank Australia interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 December 2022
- Announcement date: 09 December 2022
Bank of Melbourne interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 20 December 2022
- Announcement date: 07 December 2022
Bank of Queensland interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 09 December 2022
- Announcement date: 07 December 2022
Bank of Sydney interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 14 December 2022
- Announcement date: 12 December 2022
Bankfirst interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
- Announcement date: 16 December 2022
BankSA interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 20 December 2022
- Announcement date: 07 December 2022
BankVic interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 20 December 2022
- Announcement date: 12 December 2022
Bankwest interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
- Announcement date: 07 December 2022
BCU interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 December 2022
- Announcement date: 12 December 2022
Beyond Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 December 2022
- Announcement date: 15 December 2022
Bendigo Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
- Announcement date: 09 December 2022
Citi interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
- Announcement date: 16 December 2022
Credit Union SA interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 14 December 2022
- Announcement date: 14 December 2022
Defence Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 21 December 2022
- Announcement date: 19 December 2022
G&C Mutual Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 20 January 2023
- Announcement date: 12 December 2022
Great Southern Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
- Announcement date: 16 December 2022
Greater Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 12 December 2022
- Announcement date: 12 December 2022
Heritage Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 19 December 2022
- Announcement date: 19 December 2022
Homestar Finance interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 12 December 2022
- Announcement date: 12 December 2022
Horizon Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 09 December 2022
- Announcement date: 09 December 2022
HSBC interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 28 December 2022
- Announcement date: 19 December 2022
ING interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 13 December 2022
- Announcement date: 08 December 2022
IMB Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
- Announcement date: 12 December 2022
loans.com.au interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 09 December 2022
- Announcement date: 09 December 2022
Macquarie Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
- Announcement date: 07 December 2022
ME Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 10 December 2022
- Announcement date: 07 December 2022
MyState Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 19 December 2022
- Announcement date: 14 December 2022
Nano interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
- Announcement date: 16 December 2022
Newcastle Permanent interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 16 December 2022
- Announcement date: 09 December 2022
P&N Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 December 2022
- Announcement date: 12 December 2022
People’s Choice interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 20 December 2022
- Announcement date: 15 December 2022
Qudos Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 22 December 2022
- Announcement date: 12 December 2022
RACQ Bank interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 24 January 2023
- Announcement date: 09 December 2022
St George interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 20 December 2022
- Announcement date: 07 December 2022
Suncorp interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 15 December 2022
- Announcement date: 06 December 2022
Virgin Money interest rate rise
- December 2022 rate rise: 25 basis points
- Applies to: Variable rate home loans
- Effective date: 09 December 2022
- Announcement date: 07 December 2022
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Current low rate home loans
For quick reference: As things stand, these are some of the lowest-rate home loans Savings.com.au has found on the market:
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- Min 30% deposit
- No monthly or ongoing fees, add 0.10% for offset
- Unlimited redraws
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 23, 2022. View disclaimer.
To see how these rate movements compare with previous RBA rate changes, refer to our past rate change pages:
Disclaimers
The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers’ products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider’s web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.
