CBA implements fixed rate hikes before Christmas

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Other lenders are also making last-minute mortgage rate changes a few days before Christmas.

CommBank has launched another round of fixed rate hikes after making two adjustments in the past month.

The bank’s latest move covers fixed residential and investment rates, with increases of up to 25 basis points. Here are some of the most significant changes:

CommBank loan product

Change

New tariff announced

Comparison rate

Fixed residential P&I 3 years

+ 15bps

3.29% per year

4.36% per year

Fixed residential P&I 4 years

+ 25bps

3.49% pa

4.34% per year

Fixed P&I investment 4 years

+ 15bps

3.69% per year

4.78% per year

Fixed P&I investment 5 years

+ 20bps

3.84% per year

4.74% per year

Fixed rates for the Wealth Package product for homeowners and investors were also raised, with the four-year term still seeing the biggest increases.

Other banks below have also adjusted their rates over the past week.

Credit Union SA

Credit Union SA has increased its fixed rates for homeowners and investors as part of its special offer. Here are the most important changes

Credit Union SA loan product

Change

New tariff announced

Comparison rate

3-year P&I fixed mortgage package Special offer

+ 25bps

2.59% pa

3.53% per year

5-year P&I fixed mortgage package Special offer

+ 25bps

2.84% per year

3.53% per year

3-year P&I fixed investment mortgage package Special offer

+ 25bps

2.84% per year

4.10% per year

5-year P&I fixed investment mortgage package Special offer

+ 25bps

3.00% per annum

3.85% pa

Horizon Bank

Horizon Bank has increased its fixed rates while reducing its variable rates. The changes apply to both homeowners and investors.

Horizon Bank Loan Product

Change

New tariff announced

Comparison rate

Home Sweet Home loan

-40bps

2.59% pa

2.74% per year

Home Sweet Home Investment Loan

-40bps

2.84% per year

2.98% per year

3-year fixed rate mortgage

+ 30bps

2.89% per year

2.71% per year

5-year fixed-rate mortgage

+ 40bps

3.59% per year

3.03% per year

Great south shore

The Great Southern Bank is making another round of fixed rate hikes, this time on IO loans and fixed terms of three and five years. Here are the most important changes:

Great Southern Bank loan product

Change

New tariff announced

Comparison rate

Fixed IO 3 years

+ 25bps

3.04% per year

3.62% per year

P&I fixed 3 years

+ 25bps

2.84% per year

3.57% per year

Fixed IO investment 3 years

+ 25bps

3.24% per year

3.99% per year

Fixed P&I investment 3 years

+ 25bps

2.94% per year

3.91% per year

ME Bank

ME Bank has increased its fixed rates as part of its Member Package and Flexible Home Loan products. Here are the most important changes:

ME bank loan product

Change

New tariff announced

Comparison rate

Fixed Flexible OO 1 year P&I

+ 20bps

2.64% per year

4.18% per year

(≤80% LVR)

Inv Flexible Fixed 1 year P&I

+ 20bps

2.84% per year

4.88% per year

(≤80% LVR)

Member plan Flexible Fixed OO 3 years P&I

+ 15bps

2.69% per year

3.07% per year

(≤80% LVR)

Member package Inv Flexible Fixed 3 years P&I

+ 20bps

2.99% per year

3.65% per year

(≤80% LVR)

* OO – owner occupant

Gateway bank

Gateway Bank made several of the biggest fixed rate hikes in the past week.

Gateway Bank Loan Product

Change

New tariff announced

Comparison rate

Residential Fixed 3 years

+ 60bps

2.99% per year

4.11% pa

Premium Residential Fixed 5 years 150k +

+ 55bps

3.39% per year

3.63% per year

Premium Fixed Investment 3 years 150k +

+ 62bps

3.09% per year

3.80% pa

Premium Fixed Investment 5 years 150k +

+ 41bps

3.49% pa

3.88% per year

TIC Knock

TicToc has increased its standard fixed rates, covering loans to investors and homeowners.

Interestingly, it also cut its fixed rates to four and five years for investors on an interest-only repayment basis.

TicToc loan product

Change

New tariff announced

Comparison rate

Fixed P&I investment 3 years

+ 25bps

2.60% per year

2.79% per year

Fixed P&I resident 3 years

+ 25bps

2.59% pa

2.09% per year

Fixed IO investment 4 years

-2bps

3.22% per year

2.97% per year

Fixed IO investment 5 years

-12bps

3.32% per year

3.03% per year

Photo by @freestocks on Pexels.


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