Last sub-2% rate goes as ANZ hikes again

ANZ has hiked all its fixed rates again, wiping out their last sub-2% fixed rate. Their 1-year fixed had been the last straggler at 1.99%, but has now had 30 points added to take it to 2.29%.

30 basis points were also added to 2-, 4- and 5-year rates, raising them to 2.39%, 2.99% and 3.19% respectively.

A full 40 points was added to the flagship 3-year fixed rate at ANZ, the strongest indication yet that the Big Four bank is anticipating a cash rate rise in 2023.

READ MORE: Mortgage brokers react as RBA ditches cash rate target

The news comes just a day after NAB added 50 points to their fixed rates. In the 9 days that have passed since the RBA abandoned their 2024 target to raise the cash rate, every major lender has hiked their fixed rates substantially.

CBA was the first to take all of their rates above the symbolic 2% barrier, now joined by ANZ. Westpac and NAB have maintained their 1-year rate at 1.99%, though that seems destined to go in the very near future.

Westpac are still giving 1.99% for 1-year, 2-year and variable rates: the variable fixed for two years and then rising to 2.49%.