Home News Home loan rate changes after RBA's 0.25% rise: November 2023

Home loan rate changes after RBA's 0.25% rise: November 2023

Australia's cash rate has risen - how will your home loan be affected? Keep up with the latest home loan rate rise announcements.

By Harry O'Sullivan

Updated on 30 Nov 2023 First published 07 Nov 2023

Fact Checked

Home loan rate changes after RBA's 0.25% rise: November 2023

The Reserve Bank of Australia (RBA) has lifted the cash rate by another 25 basis points, taking it to 4.35%.

Savings.com.au will provide regular updates below of each lenders' announcements regarding passing on this November 2023 rate hike to variable rate home loans.

All rate changes below refer to lenders’ responses to the RBA’s rate hike on 7 November 2023.

Keep checking this page for all the latest movement.

Keep updated.

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Key notes:

P&I = Principal and Interest, IO= Interest Only, OO=Owner-occupiers
Basis points explained: 1 basis point = 0.01%

Big-four home loan rate changes

ANZ

ANZ interest rate rise:

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 17 November
Announcement date: 8 November

CommBank

CommBank interest rate rise:

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 17 November
Announcement date: 9 November

NAB

NAB interest rate rise:

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 17 November
Announcement date: 8 November

Westpac

Westpac interest rate rise:

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 21 November
Announcement date: 8 November

Other lenders' home loan rate changes

AMP interest rate rise

Athena interest rate rise

Australian Military Bank interest rate rise (pending)

Australian Mutual Bank interest rate rise (pending)

Australian Unity interest rate rise

Auswide interest rate rise

Bank Australia interest rate rise

Bank of Melbourne interest rate rise

Bank of Queensland (BOQ) interest rate rise

Bank of Sydney interest rate rise

Bankfirst interest rate rise (pending)

BankSA interest rate rise

BankVic interest rate rise

Bankwest interest rate rise

BCU interest rate rise

Bendigo Bank interest rate rise

Beyond Bank interest rate rise

Citi interest rate rise (pending)

Credit Union SA interest rate rise

Defence Bank interest rate rise (pending)

G&C Mutual interest rate rise

Gateway Bank interest rate rise (pending)

Great Southern Bank interest rate rise

Greater Bank interest rate rise

Heritage Bank interest rate rise

Homeloans.com.au interest rate rise (pending)

Homestar Finance interest rate rise

Horizon Bank interest rate rise

HSBC interest rate rise (pending)

Hume Bank interest rate rise (pending)

IMB Bank interest rate rise

ING interest rate rise

Loans.com.au interest rate rise

Macquarie Bank interest rate rise

ME Bank interest rate rise

Mortgage House interest rate rise (pending)

MOVE Bank interest rate rise (pending)

MyState Bank interest rate rise

Newcastle Permanent interest rate rise

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

RAMS interest rate rise

Reduce Home Loans interest rate rise (pending)

Resimac interest rate rise (pending)

St George interest rate rise

State Custodians interest rate rise (pending)

Suncorp Bank interest rate rise

Teachers Mutual Bank interest rate rise (pending)

The Mutual Bank interest rate rise (pending)

Tiimely (formerly Tictoc) interest rate rise

UBank interest rate rise

UniBank interest rate rise (pending)

Unloan interest rate rise (pending)

Virgin Money interest rate rise

Well home loans interest rate rise (pending)

Wlth interest rate rise (pending)

Yard interest rate rise (pending)

AMP interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 10 November for new customer, 13 November for existing customers
Announcement date: 9 November

Athena interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 10 November
Announcement date: 9 November

Australian Unity interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 16 November
Announcement date: 15 November

Auswide interest rate rise

November 2023 rate rise: 25 basis points for existing home loans and most new
Applies to: Variable rate home loans
Effective date: 14 November
Announcement date: 9 November

Bank Australia interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 21 November
Announcement date: 13 November

Bank of Melbourne interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 21 November
Announcement date: 10 November

Bank of Queensland (BOQ) interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 10 November
Announcement date: 8 November

Bank of Sydney interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 17 November
Announcement date: 17 November

BankSA interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 21 November
Announcement date: 10 November

BankVic interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 28 November
Announcement date: 20 November

Bankwest interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 17 November
Announcement date: 10 November

BCU interest rate rise

November 2023 rate rise: 30 basis points
Applies to: Variable-rate home loans
Effective date: 22 November
Announcement date: 20 November

Bendigo Bank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 17 November
Announcement date: 10 November

Beyond Bank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 21 November
Announcement date: 16 November

Credit Union SA interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 15 November
Announcement date: 15 November

G&C Mutual interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 13 November
Announcement date: 13 November

Great Southern Bank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 14 November
Announcement date: 10 November

Greater Bank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 17 November
Announcement date: 10 November

Heritage Bank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 21 November
Announcement date: 21 November

Homestar Finance interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 15 November
Announcement date: 15 November

Horizon Bank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 21 November
Announcement date: 10 November

IMB Bank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 17 November
Announcement date: 10 November

ING interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 14 November
Announcement date: 9 November

Loans.com.au interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 10 November
Announcement date: 10 November

Macquarie Bank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 17 November
Announcement date: 9 November

ME Bank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 11 November
Announcement date: 8 November

MyState Bank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 17 November
Announcement date: 10 November

Newcastle Permanent interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 17 November
Announcement date: 10 November

RACQ Bank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 21 November
Announcement date: 15 November

RAMS interest rate rise

November 2023 rate rise: 45 basis points
Applies to: Variable rate home loans
Effective date: 21 November
Announcement date: 13 November

St George interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 21 November
Announcement date: 10 November

Suncorp Bank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 17 November
Announcement date: 10 November

Tiimely interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 24 November
Announcement date: 22 November

UBank interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 16 November
Announcement date: 16 November

Virgin Money interest rate rise

November 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 10 November
Announcement date: 8 November

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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:

Loan purpose

Loan amount

Update results Update

Compare

Filters

Lender	Home Loan	Interest Rate	Comparison Rate*	Monthly Repayment	Repayment type	Rate Type	Ongoing Fees	Upfront Fees	LVR	Tags	Features	Link	Compare
loans.com.au	loans.com.au Variable Home Loan (LVR < 90%)	6.04% p.a.	6.06% p.a.	$2,408	Principal & Interest	Variable	$0	$530	90%	Featured 4.6 Star Customer Ratings	No monthly or ongoing fees Unlimited free redraw No application fee	More details	Compare
Unloan	Unloan Variable Rate Home Loan LVR < 80%	5.99% p.a.	5.90% p.a.	$2,396	Principal & Interest	Variable	$0	$0	80%	Featured Apply In Minutes	No application or ongoing fees. Annual rate discount Unlimited redraws & additional repayments. LVR <80% A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.	More details	Compare
Tiimely Home	Tiimely Home Live-in Variable Loan Home Loan (Principal and Interest) (LVR < 90%)	5.94% p.a.	5.95% p.a.	$2,383	Principal & Interest	Variable	$0	$0	90%	No hidden feesFree redraw facility		More details	Compare
Macquarie Bank	Macquarie Bank Basic Home Loan (Principal and Interest) (LVR < 60%)	6.14% p.a.	6.16% p.a.	$2,434	Principal & Interest	Variable	$0	$350	60%		Estimate your borrowing power in as little as 1 minute Complete your application in as little as 15 minutes	More details	Compare

Variable Home Loan (LVR < 90%)

Product Features

No monthly or ongoing fees
Unlimited free redraw
No application fee

Monthly repayments: $2,408

6.04% Advertised Rate (p.a.)

6.06% Comparison Rate*

More details

Important Information and Comparison Rate Warning

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. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. 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 . View disclaimer.

Important Information and Comparison Rate Warning

To see how these rate movements compare with previous RBA rate changes, refer to our past rate change pages:

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Harry O'Sullivan

Harry joined Savings in November 2022. With a degree in economics from the University of Queensland, Harry is interested in topics such as inflation and GDP, and is passionate about keeping Australians informed on the external factors that impact their personal finances.

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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, InfoChoice.com.au, YourMortgage.com.au, YourInvestmentPropertyMag.com.au, and Performance Drive are part of the InfoChoice Group. In the interest of full disclosure, the InfoChoice Group is associated with the Firstmac Group. Read about how InfoChoice Group manages potential conflicts of interest, along how we get paid.

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Savings.com.au provides general information and comparison services to help you make informed financial decisions. We do not cover every product or provider in the market. Our service is free to you because we receive compensation from product providers for sponsored placements, advertisements, and referrals. Importantly, these commercial relationships do not influence our editorial integrity.

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For more details, see How We Get Paid.

Product Coverage and Sort Order

We strive to cover a broad range of products, providers, and services; however, we do not cover the entire market. Products in our comparison tables are sorted based on various factors, including product features, interest rates, fees, popularity, and commercial arrangements.

Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes.

Additionally, certain products may present forms designed to refer you to associated companies (e.g. our mortgage broker partner) who may be able to assist you with products from the brand you selected. We may receive a fee for this referral.

You can customise your search using our sorting and filtering tools to prioritise what matters most to you, although we do not compare all features and some results associated with commercial arrangements may still appear.

For more details, visit How We Get Paid and Managing Conflicts of Interest.

Comparison Rate Warning and Base Criteria

For home loans, the base criteria include a $400,000 loan amount over 25 years. For car loans and personal loans, the base criteria include a $30,000 loan over 5 years. These rates are only examples and may not include all fees and charges.

*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.

Monthly Repayment Figures

Monthly repayment figures are estimates that exclude fees. These estimates are based on the advertised rates for the specified term and loan amount. Actual repayments will depend on your circumstances and interest rate changes.

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.

Related Brands

Savings.com.au is proudly part of the InfoChoice Group, which includes InfoChoice.com.au, YourMortgage.com.au, YourInvestmentPropertyMag.com.au, and PerformanceDrive.com.au. The InfoChoice Group is associated with the Firstmac Group.

We may include products and services from loans.com.au, CarLoans.com.au, OnlineAuto.com.au, and YourMortgageBroker Pty Ltd, all associated with the Firstmac Group. Importantly, these brands are treated like any other commercial partner.

Learn more about how we manage conflicts of interest.

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The information provided by Savings.com.au is general in nature and does not take into account your personal objectives, financial situation, or needs. We recommend seeking independent financial advice before making any financial decisions. Before acquiring any financial product, obtain and read the relevant Product Disclosure Statement (PDS), Target Market Determination (TMD), and any other offer documents.

Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au’s Financial Services and Credit Guide (FSCG).

Home loan rate changes after RBA's 0.25% rise: November 2023

Keep updated.

Big-four home loan rate changes

ANZ

ANZ interest rate rise:

CommBank

CommBank interest rate rise:

NAB

NAB interest rate rise:

Westpac

Westpac interest rate rise:

Other lenders' home loan rate changes

AMP interest rate rise

Athena interest rate rise

Australian Unity interest rate rise

Auswide interest rate rise

Bank Australia interest rate rise

Bank of Melbourne interest rate rise

Bank of Queensland (BOQ) interest rate rise

Bank of Sydney interest rate rise

BankSA interest rate rise

BankVic interest rate rise

Bankwest interest rate rise

BCU interest rate rise

Bendigo Bank interest rate rise

Beyond Bank interest rate rise

Credit Union SA interest rate rise

G&C Mutual interest rate rise

Great Southern Bank interest rate rise

Greater Bank interest rate rise

Heritage Bank interest rate rise

Homestar Finance interest rate rise

Horizon Bank interest rate rise

IMB Bank interest rate rise

ING interest rate rise

Loans.com.au interest rate rise

Macquarie Bank interest rate rise

ME Bank interest rate rise

MyState Bank interest rate rise

Newcastle Permanent interest rate rise

RACQ Bank interest rate rise

RAMS interest rate rise

St George interest rate rise

Suncorp Bank interest rate rise

Tiimely interest rate rise

UBank interest rate rise

Virgin Money interest rate rise

Current low rate home loans

Ready, Set, Buy!

Harry O'Sullivan

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Important information

Editorial Integrity

Advertiser Disclosure

Product Coverage and Sort Order

Comparison Rate Warning and Base Criteria

Monthly Repayment Figures

Related Brands

General Advice Disclosure