Fresh RBA hike tipped while lenders cut rates
Major Australian banks are forecasting an RBA interest rate hike, yet many mortgage lenders are simultaneously lowering variable rates to attract customers. This creates a confusing landscape for borrowers facing potential repayment increases.
Why it matters
Conflicting financial signals impact consumer spending power and the broader Australian housing market stability.
Mortgage lenders are cutting rates to fight for customers even as three major banks now expect another RBA hike this year.
National Australia Bank has become the latest major to change its cash rate forecast, tipping a 0.25 percentage point increase at the RBA’s September 28-29 meeting.
Mortgage borrowers face conflicting signals as three major banks tip another RBA rate hike this year while dozens of lenders cut variable home loan rates to chase customers.
Commonwealth Bank and ANZ expect a hike in November, while Westpac expects the RBA’s next move to be a cut in August 2027, according to Canstar. RELATED: ‘Can’t tell’: Star exposes $7k Block gap
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A September hike would add about $91 a month to repayments on a $600,000 mortgage with 25 years remaining, Canstar analysis shows.
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