CBA hikes send some fixed rates to the sixes, Macquarie joins in with rate increases
15 Jan 2026
CBA and Macquarie Bank have today hiked fixed home loan rates for owner-occupier and investor loans, as the banks factor in the increasing likelihood of a cash rate hike.
CBA increased owner-occupier rates by up to 0.70 percentage points. Its lowest fixed home loan rate is now 5.79% for a 2-year term.
As a result of these changes, NAB now offers the lowest fixed rate out of the major banks, at 5.39% for both 1-year and 2-year loan terms.
← Mobile/tablet users, scroll sideways to view full table →
| CBA fixed rate changes today | |||
|---|---|---|---|
| Term | Old rate from | New rate from | Change %-pts |
| 1-year | 5.49% | 5.94% | 0.45% |
| 2-year | 5.44% | 5.79% | 0.35% |
| 3-year | 5.34% | 6.04% | 0.70% |
| 4-year | 5.79% | 6.09% | 0.30% |
| 5-year5 | 5.94% | 6.24% | 0.30% |
Source: Canstar. Notes: Rates based on owner-occupier fixed-rate loans. LVR requirements apply.
← Mobile/tablet users, scroll sideways to view full table →
| Big four bank lowest fixed rates | ||||
|---|---|---|---|---|
| CBA | Westpac | NAB | ANZ | |
| 1-year | 5.94% | 5.49% | 5.39% | 5.49% |
| 2-year | 5.79% | 5.59% | 5.39% | 5.44% |
| 3-year | 6.04% | 5.69% | 5.44% | 5.64% |
| 4-year | 6.09% | 5.89% | 5.79% | 5.89% |
| 5-year | 6.24% | 5.89% | 5.79% | 5.89% |
Source: Canstar. Rates based on owner occupier fixed rate loans. LVR requirements apply.
Macquarie hikes fixed rates again
Macquarie increased rates by 0.25%-pts across all fixed loan terms, bringing its lowest rate to 5.59% for a 1-year term.
This is the second rate hike in six weeks for the country’s fifth largest bank, having previously raised rates on December 5.
← Mobile/tablet users, scroll sideways to view full table →
| Macquarie fixed rate changes today | |||
|---|---|---|---|
| Term | Old rate from | New rate from | Change %-pts |
| 1-year | 5.34% | 5.59% | 0.25% |
| 2-year | 5.44% | 5.69% | 0.25% |
| 3-year | 5.49% | 5.74% | 0.25% |
| 4-year | 5.54% | 5.79% | 0.25% |
| 5-year | 5.64% | 5.89% | 0.25% |
Source: Canstar. Notes: Rates based on owner-occupier fixed-rate loans. LVR requirements apply.
Run of rate hikes before the RBA meeting in February
Rate tracking by Canstar shows a total of 34 lenders have hiked at least one fixed rate in the last month.
There are now just 16 lenders offering a fixed rate below 5%, down from 27 a month ago.
The end of the 4% fixed rate?
Canstar data insights director, Sally Tindall, says, “Australia’s biggest bank has hiked its fixed rates across its owner-occupier and investor loans in one case by up to 0.70 percentage points.”
“As a result, CBA’s lowest fixed rates are now higher than each of its big bank competitors across all terms.
“It’s a big change from last year when the bank was offering up a 2-year special at 4.99 per cent. Now CBA’s lowest 2-year fixed rate is a less-than-attractive 5.79 per cent.
“The move follows on from hikes from the other majors in December as the fixed rate market continues to factor in the possibility of a higher cash rate.
“Macquarie has also continued its retreat away from posting competitive fixed rates, with a second hike in the space of six weeks.
“While the majority of borrowers are on variable rates, anyone who was considering fixing may feel like they’ve missed the boat.
“The fixed rate tide is on the way out, but there’s still a smattering of lenders still offering rates under 5 per cent. How long they’ll hold on is a different question.
“Canstar data show there are just 16 lenders offering a rate under 5 per cent – a significant drop from 27 a month ago. If this trend continues, as we expect it to, the list of lenders offering fixed rates starting with a ‘4’ could be down to single digits by the time the next RBA meeting comes around.”
← Mobile/tablet users, scroll sideways to view full table →
| Lowest fixed rates on Canstar.com.au | ||
|---|---|---|
| Term | Lender | Lowest rate from |
| 1-year | Pacific Mortgage Group, Geelong Bank | 4.99% |
| 2-year | Community First, Illawarra Credit Union, The Mutual Bank | 4.94% |
| 3-year | G&C Mutual, Unity Bank | 4.85% |
| 4-year | Freedom Lend | 5.24% |
| 5-year | Freedom Lend | 5.24% |
Source: Canstar. Rates based on owner occupier fixed rate loans. Excludes first home buyer, green only and other special condition loans. LVR requirements apply.
This article was reviewed by our Consumer Editor Meagan Lawrence before it was updated, as part of our fact-checking process.
