Fixed rates point to more hikes<\/p>\n
ANZ is not the only major bank lifting fixed rates. NAB<\/a> has raised them twice in three weeks, and CBA<\/a> and Westpac<\/a> have made increases of up to 0.48 and 0.45 percentage points respectively over the same period. Canstar said the repricing suggests there is a strong chance of further RBA rate rises.<\/p>\n The major banks\u2019 economists are split on whether the next rise comes soon. ANZ and Westpac expect one more increase in November<\/a>, which would take the cash rate to 4.85%, while CBA<\/a> and NAB<\/a> expect 4.6% to mark the peak.<\/p>\n Variable rates rise across the market<\/p>\n CBA\u2019s lowest variable rate is 6.34%, NAB\u2019s starts from 6.29% and ANZ\u2019s is 6.5%, leaving Westpac<\/a> the cheapest of the majors at 6.24%. All four rates apply to owner-occupiers paying principal and interest.<\/p>\n More than 40 lenders tracked by Canstar have passed on the full increase, including Bendigo<\/a>, ING<\/a>, AMP<\/a>, Bankwest<\/a>, St George, and Suncorp<\/a>. The lowest variable rate among lenders that have announced their new pricing is 5.94%. Canstar expects the average owner-occupier variable rate to settle at about 6.49%.<\/p>\n Tindall said borrowers who had not reviewed their loans could now have a rate starting with a 7, \u201ca figure that was unthinkable even a year ago\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"Fixed rates point to more hikes ANZ is not the only major bank lifting fixed rates. NAB has…\n","protected":false},"author":2,"featured_media":625076,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[307099,307100,138,190694,219,111,139,69],"class_list":["post-625075","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-anz-fixed-rates","tag-big-four-variable-rates","tag-business","tag-cash-rate-forecast","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/625075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=625075"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/625075\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/625076"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=625075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=625075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=625075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}