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RBA Rate Rise July 2022: Home Loan Rate Announcements

Australia’s cash rate has been raised again. Find out if your lender is passing the rate rise on with Savings.com.au’s comprehensive list of home loan rate rise announcements.

The Reserve Bank of Australia (RBA) has raised the cash rate by 50 basis points in July, taking it up to 1.35%.

Savings.com.au will provide regular updates below of which lenders are announcing they are passing on this July 2022 rate hike to variable rate home loans.

Which lenders are raising variable interest rates?

All rate changes below refer to lenders’ responses to the RBA’s rate hike on 5 July 2022. To see how these rate movements compare with previous RBA rate changes, refer to our past rate change pages:

Last updated: 05/07/2022.

Key notes:

PI = Principal and Interest, IO= InterestOnly, OO=Owner-occupiers
Basis points explained: 1 basis point = 0.01%

  • AMP interest rate rise (pending)
  • ANZ interest rate rise (pending)
  • Athena interest rate rise (pending)
  • Australian Military Bank interest rate rise (pending)
  • Australian Unity Bank interest rate rise (pending)
  • Auswide Bank interest rate rise (pending)
  • Bank Australia interest rate rise (pending)
  • Bank of Melbourne interest rate rise (pending)
  • Bank of Queensland (BOQ) interest rate rise (pending)
  • Bankfirst interest rate rise (pending)
  • BankSA interest rate rise (pending)
  • Bank of Sydney interest rate rise (pending)
  • BankVic interest rate rise (pending)
  • Bankwest interest rate rise (pending)
  • Bank of us interest rate rise (pending)
  • BCU interest rate rise (pending)
  • Bendigo Bank interest rate rise (pending)
  • Beyond Bank interest rate rise (pending)
  • Citi interest rate rise (pending)
  • Commonwealth Bank interest rate rise (pending)
  • Credit Union SA interest rate rise (pending)
  • Defense Bank interest rate rise (pending)
  • G&C Mutual Bank interest rate rise (pending)
  • Gateway Bank interest rate rise (pending)
  • Great Southern Bank interest rate rise (pending)
  • Greater Bank interest rate rise (pending)
  • Heritage Bank interest rate rise (pending)
  • Homeloans.com.au interest rate rise (pending)
  • Homestar Finance interest rate rise (pending)
  • Horizon Bank interest rate rise (pending)
  • HSBC interest rate rise (pending)
  • Hume Bank interest rate rise (pending)
  • IMB interest rate rise (pending)
  • ING interest rate rise (pending)
  • Loans.com.au interest rate rise (pending)
  • Macquarie Bank interest rate rise (pending)
  • ME Bank interest rate rise (pending)
  • Mortgage House interest rate rise (pending)
  • MOVE Bank interest rate rise (pending)
  • MyState Bank interest rate rise (pending)
  • NAB interest rate rise (pending)
  • Nano interest rate rise (pending)
  • Newcastle Permanent interest rate rise (pending)
  • OneTwo Home Loans interest rate rise (pending)
  • P&N Bank interest rate rise (pending)
  • People’s Choice interest rate rise (pending)
  • Police Credit Union interest rate rise (pending)
  • QBank interest rate rise (pending)
  • Qudos Bank interest rate rise (pending)
  • RACQ Bank interest rate rise (pending)
  • RAMS interest rate rise (pending)
  • Reduce Home Loans interest rate rise (pending)
  • Resimac interest rate rise (pending)
  • St George interest rate rise (pending)
  • State Custodians interest rate rise (pending)
  • Suncorp Bank interest rate rise (pending)
  • 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)
  • Virgin Money interest rate rise (pending)
  • Well home loans interest rate rise (pending)
  • Westpac interest rate rise (pending)
  • Wlth interest rate rise (pending)
  • Yard interest rate rise (pending)

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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:

Lender


Variable More details
UNLIMITED REDRAWSSPECIAL OFFER

Smart Booster Home Loan Discounted Variable – 2yr (LVR

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%

Variable More details
ZERO APPLICATION FEESFEE-FREE OFFSET

Owner Occupier Accelerates – Celebrate (LVR

  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees
  • The shorter your loan, the less interest you pay in the long run.

Owner Occupier Accelerates – Celebrate (LVR

  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees
  • The shorter your loan, the less interest you pay in the long run.

Variable More details
QLD/NSW/VIC/SA METRO & INNER REGIONAL AREAS

Variable Home Loan (Principal and Interest)

  • $5,000 cash back. T&Cs Apply.
Variable More details
REFINANCE ONLY

Variable Rate Home Loan – Refinance Only

  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.

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. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. 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 July 5, 2022. View disclaimer.


ANZ interest rate rise

  • July 2022 rate rise:
  • Applies to:
  • Effective date:
  • Announcement date:
  • Other info:

Commonwealth Bank interest rate rise

  • July 2022 rate rise:
  • Applies to:
  • Effective date:
  • Announcement date:
  • Other info:

NAB interest rate rise

  • July 2022 rate rise:
  • Applies to:
  • Effective date:
  • Announcement date:
  • Other info:

Westpac interest rate rise

  • July 2022 rate rise:
  • Applies to:
  • Effective date:
  • Announcement date:
  • Other info:



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.


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