Home loan

August 2022 RBA Rate Hike: Home Loan Rate Announcements

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Australia’s exchange rate was again raised by 50 basis points. See how this affects your home loan with Savings.com.au’s full list of home loan rate hike announcements.

The Reserve Bank of Australia (RBA) raised the key rate by a further 50 basis points in August to 1.85%.

Savings.com.au will provide regular updates underneath announcements from each of the lenders regarding the impact of this July 2022 rate hike on variable rate mortgages.

When does your lender raise variable interest rates?

All rate changes below refer to lenders’ responses to the RBA’s rate hike on August 2, 2022. To see how these rate moves compare to previous RBA rate changes, see our pages on past rate changes:

Last update: 2/08/2022.

Key notes:

IP = Principal and interest, OI= Interest only, OO=Owner occupants
Basic points explained: 1 basis point = 0.01%

86,400 interest rate hike (waiting)

Increase in AMP rates (waiting)

ANZ Bank interest rate hike (waiting)

Athena interest rate hike (waiting)

Australian Military Bank interest rate hike (waiting)

Australian Unit Interest Rate Rise (waiting)

Auswide Bank interest rate hike (waiting)

Bank Australia interest rate hike (waiting)

Bank of Melbourne interest rate hike (waiting)

Bank of Queensland (BOQ) interest rate hike (waiting)

Bank of Sydney interest rate hike (waiting)

Bankfirst interest rate hike (waiting)

BankSA interest rate hike (waiting)

BankVic interest rate hike (waiting)

Bankwest interest rate hike (waiting)

BCU interest rate hike (waiting)

Bendigo Bank interest rate hike (waiting)

Beyond the rise in bank interest rates (waiting)

Citi interest rate hike (waiting)

Commonwealth Bank interest rate hike (waiting)

Credit Union SA interest rate hike (waiting)

Defense Bank interest rate hike (waiting)

G&C Mutual Bank interest rate hike (waiting)

Gateway Bank interest rate hike (waiting)

Great Southern Bank interest rate hike (waiting)

Larger increase in bank interest rates (waiting)

Heritage Bank interest rate hike (waiting)

Homeloans.com.au interest rate hike (waiting)

Homestar Finance interest rate hike (waiting)

Horizon Bank interest rate hike (waiting)

HSBC interest rate hike (waiting)

Hume Bank interest rate hike (waiting)

IMB Bank interest rate hike (waiting)

ING’s interest rate hike (waiting)

Loans.com.au interest rate hike (waiting)

Macquarie Bank interest rate hike

ME Bank interest rate hike (waiting)

Rising mortgage interest rates (waiting)

MOVE Increase in bank rates (waiting)

MyState Bank interest rate hike (waiting)

NAB interest rate hike (waiting)

Nano interest rate hike (waiting)

Newcastle Permanent interest rate hike (waiting)

OneTwo Home Loan Interest Rates Rise (waiting)

P&N Bank interest rate hike (waiting)

People’s Choice interest rate hike (waiting)

Police Credit Union Interest Rate Rise (waiting)

QBank interest rate hike (waiting)

Qudos Bank interest rate hike (waiting)

RACQ Bank interest rate hike (waiting)

Rise in RAMS interest rates (waiting)

Reduce rising mortgage interest rates (waiting)

Resimac raises interest rates (waiting)

Interest rate hike in St George (waiting)

Rise in interest rates for government depositories (waiting)

Suncorp Bank interest rate hike (waiting)

Sydney Mutual Bank interest rate hike (waiting)

Teachers Mutual Bank interest rate hike (waiting)

The rise in interest rates of the Mutual Bank (waiting)

Tic:Toc hike in interest rates (waiting)

Ubank raises interest rates (waiting)

UniBank interest rate hike (waiting)

Rising interest rates (waiting)

Virgin Money interest rate hike (waiting)

Well, home loan interest rates are rising (waiting)

Westpac interest rate hike (waiting)

With rising interest rates (waiting)

Increase in construction interest rates (waiting)


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Current reduced rate mortgages

For quick reference: As it stands, here are some of the lowest rate home loans Savings.com.au has found on the market:



Lender


Variable More details
ALREADY INCLUDES RBA RATE INCREASE IN JULYUNLIMITED WITHDRAWALS

Smart Booster Home Loan Discounted Variable – 2 years (LVR
  • Already includes July RBA rate increase
  • Fast turnaround times, can meet 30 day settlement
  • For purchase and refinancing, down payment min 20%
  • No ongoing or monthly fees, add 0.10% compensation

Variable More details
REFINANCING ONLY

Variable Rate Home Loan – Refinance Only

  • A low variable rate home loan from a 100% online lender. Supported by the Commonwealth Bank.
Variable More details
AN EASY DIGITAL APPLICATION

Careful variable real estate loan (capital and interest) (LVR

  • No ongoing fees – None!
  • Unlimited additional refunds
  • Easy online application, quickly find out if you are approved!
  • Redraw – Access your extra payments if you need them
  • Use the app for loan information to help you pay off your home loan faster

Careful variable real estate loan (capital and interest) (LVR
  • No ongoing fees – None!
  • Unlimited additional refunds
  • Easy online application, quickly find out if you are approved!
  • Redraw – Access your extra payments if you need them
  • Use the app for loan information to help you pay off your home loan faster

Variable More details
QLD/NSW/VIC/SA METRO AND INLAND REGIONAL AREAS

Variable real estate loan (capital and interest)

  • $5000 cash back. Terms and conditions apply.


Basic criteria: a loan amount of $400,000, variable, fixed, principal and interest (P&I) real estate loans with an LVR (loan-to-value) ratio of at least 80%. However, the “Compare mortgages” table allows calculations to be made on the variables selected and entered by the user. All products will list the LVR with the product and price list which is clearly published on the product supplier’s website. Monthly repayments, once the basic criteria are modified by the user, will be based on the advertised prices of the selected products and determined by the loan amount, repayment type, loan term and LVR as entered by the user. user/you. *The comparison rate is based on a loan of $150,000 over 25 years. Please note: this comparison rate is only true for this example and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate. Rates correct as of August 3, 2022. See disclaimer.


ANZ interest rate hike

  • August 2022 rate hike:
  • Applies to:
  • Effective date:
  • announcement date:
  • Other info:

Commonwealth Bank interest rate hike

  • August 2022 rate hike:
  • Applies to:
  • Effective date:
  • announcement date:
  • Other info:

Macquarie Bank interest rate hike

  • August 2022 rate hike: 50 basis points
  • Applies to: Variable rate mortgages
  • Effective date: August 12
  • announcement date: August 2nd
  • Other info: Macquarie Bank will reduce fixed rates on home loans by up to 0.75% per annum for new and existing customers looking for a fixed rate option. Macquarie Bank will also increase its transaction and savings account 0.50% to 2.25% per year on balances up to $250,000 starting August 12. The bank will also raise a range of rates on 3-, 6-, 9- and 12-month term deposit products starting August 4.

NAB interest rate hike

  • August 2022 rate hike:
  • Applies to:
  • Effective date:
  • announcement date:
  • Other info:

Westpac interest rate hike

  • August 2022 rate hike:
  • Applies to:
  • Effective date:
  • announcement date:
  • Other info:




Disclaimer

The entire market has not been taken into account in the selection of the products above. Instead, a reduced portion of the market was considered. Products from some vendors may not be available in all states. To be considered, the product and price must be clearly published on the product supplier’s website. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au and Performance Drive are part of the Savings Media group. In the interest of full disclosure, Savings Media Group is associated with Firstmac Group. To learn how Savings Media Group handles potential conflicts of interest, as well as how we are paid, please visit the website links at the bottom of this page.


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