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ANZ has lifted its Simplicity PLUS owner-occupier home loan from 5.89% to 6.15% (LVR 80% or less)
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CBA has lifted its owner-occupier Simple Home Loan from 5.84% to 6.09%
It follows a swathe of fixed rate increases by as much as 35 basis points earlier this week as the banks prime themselves for higher funding costs down the line.
“Variable borrowers across the country are now having to brace for the second cash rate hike in as many months, while staring down the barrel of a potential third hike as soon as May,” said Canstar data insights director, Sally Tindall.
“Make no mistake, banks are starting to charge customers higher rates from today, but be aware there’s a significant delay between today and when that extra money comes out of your bank account, for those paying the minimum.
“Customers might think they’ve successfully accounted for two hikes, when in actual fact they might not have even started paying for the first one.
“If you’ve got a variable mortgage, understand what your new minimum monthly repayment is and make sure you can clear this amount.”