ANZ is increasing all its fixed home loan rates.
But it is only increasing two term deposit rates.
An ANZ spokesperson said: “We aim to strike a balance over time between competitive rates for borrowers and fair returns for savers.”
The two TD rates got a +15 bps increase and both terms are relatively popular - nine months, and one year.
The fixed mortgage rate increases will take their new rate card to the highest of any main bank. In fact, it will be the highest rate set of any bank.
For six months and one year, ANZ's new fixed rates will match Westpac who recently raised rates. But for all other fixed terms, ANZ is the highest all by itself.
If history is any guide, it is likely that the other banks who have not moved in this cycle will now adjust upward to take up the space ANZ has offered them.
Ahead, financial markets are betting (almost 100%) that the OCR will rise at its next review on July 8, 2026.
One thing not driving mortgage rates higher recently is wholesale swap rates. Since March 23 (which was more than ten weeks ago), these haven't really moved.
But a week earlier on March 13, ANZ's one year fixed rate was 4.49%, its 18 month rate was 4.69% and its two year rate was 4.89%. So these latest rates represent the +30-50 bps increase announced today. Rates fell to those prior levels at the end of January. Over the whole period since then, wholesale rates have risen about +40 bps.
To compare mortgage rate offers in a way that includes the application and account fees costs, (or break fee costs if you need to do that), and applying the impact of a cashback/legal fee reimbursement, or other incentives, you can use our home loan comparison calculator. You can find it here. Or, for convenience, we have added it to the bottom of this article.
Negotiate, (even with your mortgage broker). How flexible banks may be will depend on the strength of your financials.
One other useful way to make sense of the changed home loan rates is to use our full-function mortgage calculator which is here.
And if you already have a fixed term mortgage that is not up for renewal at this time, our break fee calculator may help you assess your options. Break fees will be minimal in a rising market.
Here is the snapshot of the lowest advertised fixed-term mortgage rates on offer from the key retail banks at the moment.
| Fixed, below 80% LVR | 6 mths | 1 yr | 18 mth | 2 yrs | 3 yrs | 4 yrs | 5 yrs |
| as at June 4, 2026 | % | % | % | % | % | % | % |
| ANZ | 4.69 +0.20 |
4.79 +0.10 |
5.19 +0.20 |
5.49 +0.20 |
5.69 +0.20 |
6.39 +0.20 |
6.49 +0.20 |
 |
4.49 | 4.65 | 4.95 | 5.25 | 5.49 | 5.69 | 5.89 |
 |
4.49 | 4.65 | 4.95 | 5.19 | 5.39 | 5.59 | 5.79 |
 |
4.49 | 4.75 | 5.29 | 5.55 | 5.89 | 5.99 | |
 |
4.69 | 4.79 | 5.09 | 5.19 | 5.49 | 5.59 | 5.79 |
| Bank of China | 4.38 | 4.48 | 4.68 | 4.78 | 5.08 | 5.38 | 5.58 |
| China Construction Bank | 4.40 | 4.49 | 4.49 | 4.54 | 4.90 | 5.10 | 5.20 |
| Co-operative Bank | 4.59 | 4.65 | 4.99 | 5.29 | 5.49 | 5.75 | 5.89 |
| ICBC | 4.39 | 4.49 | 4.75 | 4.99 | 5.25 | 5.45 | 5.65 |
 |
4.49 | 4.69 | 4.95 | 5.19 | 5.39 | 5.55 | 5.69 |
 |
4.59 | 4.69 | 5.09 | 5.25 | 5.49 | 5.89 | 5.99 |
Fixed mortgage rates
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Daily swap rates
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