ANZ hikes fixed rates ahead of RBA decision
13 Mar 2026
Big four bank, ANZ, has today hiked fixed rates by up to 0.25 percentage points, ahead of Tuesday’s cash rate decision.
As a result, the majority of the ANZ’s lowest fixed rates are now above 6.00%, with just the lowest 1-year rate sitting at 5.99%.
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| Changes to ANZ’s lowest fixed rates | |||
|---|---|---|---|
| Term | Old rate from | New rate from | Change %-pts |
| 1-year | 5.89% | 5.99% | +0.10 |
| 2-year | 5.79% | 6.04% | +0.25 |
| 3-year | 6.04% | 6.14% | +0.10 |
| 4-year | 6.09% | 6.19% | +0.10 |
| 5-year | 6.24% | 6.34% | +0.10 |
Source: Canstar – 13/03/2026. Rates based on owner-occupier fixed-rate loans. LVR requirements apply.
Looking at the big four bank mortgage rates, NAB still offers the lowest fixed rate out of the majors at 5.74% for a 1-year term.
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| Big four banks’ lowest fixed rates | ||||
|---|---|---|---|---|
| CBA | Westpac | NAB | ANZ | |
| 1-year | 6.19% | 5.79% | 5.74% | 5.99% |
| 2-year | 6.04% | 5.89% | 5.79% | 6.04% |
| 3-year | 6.29% | 5.99% | 5.84% | 6.14% |
| 4-year | 6.34% | 6.09% | 5.99% | 6.19% |
| 5-year | 6.49% | 6.09% | 6.09% | 6.34% |
Source: Canstar. Rates based on owner-occupier fixed rate loans. LVR requirements apply.
ANZ not hiking alone
Canstar ate tracking shows 26 lenders have hiked at least one fixed rate in the last fortnight including Bankwest, ubank, Heritage Bank and RACQ.
As a result, the average 2-year fixed rate is now 0.21 percentage points higher than the average variable rate, a noticeable change from the start of the year when the average fixed and variable rates were on par with each other.
Note: the averages are of the lowest available rates from each lender in the database.
Lowest fixed rates also edging higher
The lowest fixed rate on Canstar is now 5.24% from Southern Cross Credit Union, with the option of fixing for 1 or 2 years.
As a result of the rate hikes, just four lenders are still offering at least one fixed rate under 5.40%. At the start of the year, it was 62.
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| Lowest 1-year fixed rates | Lowest 2-year fixed rates | |||
|---|---|---|---|---|
| Lender | Lowest rate from | Lender | Lowest rate from | |
| Southern Cross Credit Union | 5.24% | Southern Cross Credit Union | 5.24% | |
| Pacific Mortgage Group | 5.39% | BankVic | 5.29% | |
| G&C Mutual | 5.40% | Northern Inland Credit Union | 5.39% | |
Source: Canstar. Rates based on owner occupier fixed rate loans. LVR requirements apply.
Early warning signs for where rates are headed
Canstar data insights director, Sally Tindall, says, “ANZ has jumped the gun on the RBA, lifting fixed rates just four days out from the central bank’s next decision.”
“Fixed rates are typically the early warning signal for where rates are headed. When they start creeping up before an RBA meeting it’s a sign lenders are pricing in a hike before it materialises.
“The fact that the majority of ANZ’s fixed rates now sit above 6.00 per cent will feel like a psychological shift for borrowers.
“ANZ is far from alone in moving fixed rates though. Analysis of the Canstar database shows 26 lenders have moved 466 fixed rates in the past fortnight alone.
“In the last week alone, many economists have increased their cash rate hike expectations on the back of already high inflation that could rise even further from soaring petrol prices. As a result, some borrowers could now be thinking about flipping over to fixed.
“If that’s you, don’t panic. Walk through the decision with a calm and clear head, noting the risks on both sides and the extra rules and restrictions that come with locking in your rate.
“The cash rate could well rise in coming weeks, but the fallout from the war, if it hits the Australian economy and jobs market hard, could also push the RBA into reverting back to cuts in the not too distant future.
“The door is closing on many of the competitive deals. Canstar data shows there are just 4 lenders still offering fixed rates under 5.40 per cent. To put this into context, at the start of the year there were 62.
“That said, shopping around can still make a big difference, regardless of whether you decide to fix or stick with a variable rate.”
This article was reviewed by our Consumer Editor Meagan Lawrence before it was updated, as part of our fact-checking process.
