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RBA rate increase June 2022: Will your mortgage repayments increase? Here are Lender’s responses

The Reserve Bank of Australia officially increased its cash rate by 0.5 basis points on the 8th of June. Will the increase be passed on by your lender affecting your existing mortgage and upcoming repayments? Stay up to date with the latest announcements on our blog.
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RBA rate increase June 2022: Will your mortgage repayments increase? Here are Lender’s responses

The Reserve Bank of Australia officially increased its cash rate by 0.5 basis points on the 8th of June. Will the increase be passed on by your lender affecting your existing mortgage and upcoming repayments? Stay up to date with the latest announcements on our blog.
Share this article with friends and family:
Facebook
Twitter
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After announcing a cash rate increase of 0.25 basis points in March, the RBA further announced a rate increase in June 2022. To date, the cash rate target currently sits at 0.85% as a measure intended to curb soaring inflation rates.

Are you wondering how this will impact your mortgage repayments, looking to review your existing loan to reduce its rate, consolidate your existing debts or keen to find ways to better manage your debt and living expenses? Our team at Rise High is always here to help! Contact us today or explore our Rise High TV channel to get all your Money, Finance, and Property questions answered!

Last updated on July 15th, 2022

RBA rate increase June 2022: Banks’ response

Adelaide Bank interest rate rise 

(pending)

AMP interest rate rise 

  • Rate increase: 50 basis points
    Effective from date: 15 July for (new customers), 18 July for (existing customers)
    Applies to: Variable rate home loans

ANZ interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 15
    Applies to: Variable rate home loans

Auswide Bank interest rate rise 

  • Rate increase: 50 basis points
    Effective from date: July 20
    Applies to: Variable rate home loans

Bank Australia interest rate rise 

  • Rate increase: 50 basis points
    Effective from date: July 18
    Applies to: Variable rate home loans

Bank of China interest rate rise

(pending)

Bank of Melbourne interest rate rise 

  • Rate increase: 50 basis points
    Effective from date: July 20
    Applies to: Variable rate home loans

Bank of Queensland (BOQ) interest rate rise 

  • Rate increase: 50 basis points
    Effective from date: July 8
    Applies to: Variable rate home loans

Bank of Sydney interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 14
    Applies to: Variable rate home loans

BankSA interest rate rise 

  • Rate increase: 50 basis points
    Effective from date: July 20
    Applies to: Variable rate home loans

Bankwest interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 15
    Applies to: Variable rate home loans

Bendigo Bank interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 15
    Applies to: Variable rate home loans

Beyond Bank interest rate rise

  • Rate increase: 50 basis points
    Effective from date: June 23
    Applies to: Variable rate home loans

Citi interest rate rise 

  • Rate increase: 50 basis points
    Effective from date: June 17
    Applies to: Variable rate home loans

Commonwealth Bank interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 15
    Applies to: Variable rate home loans

Credit Union SA interest rate rise

(pending)

Firefighter Mutual Bank interest rate rise

(pending)

Great Southern Bank interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 14
    Applies to: Variable rate home loans

Health Professionals Bank interest rate rise

(pending)

Heritage Bank interest rate rise 

  • Rate increase: 50 basis points
    Effective from date: June 20
    Applies to: Variable rate home loans

Horizon Bank interest rate rise

  • Rate increase: 40 basis points
    Effective from date: July 7
    Applies to: Variable rate home loans

HSBC interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 25
    Applies to: Variable rate home loans

Hume Bank interest rate rise

  • Rate increase: 50 basis points
    Effective from date: June 24
    Applies to: Variable rate home loans

Hunter United interest rate rise 

(pending)

IMB Bank interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 11
    Applies to: Variable rate home loans

ING interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 12
    Applies to: Variable rate home loans

Judo Bank interest rate rise

(pending)

Macquarie Bank interest rate rise

  • Rate increase: 50 basis points
    Effective from date: 14 July
    Applies to: Variable rate home loans

ME Bank interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 9
    Applies to: Variable rate home loans

MyState Bank interest rate rise 

  • Rate increase: 50 basis points
    Effective from date: July 18
    Applies to: Variable rate home loans

NAB interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 15
    Applies to: Variable rate home loans

Newcastle Permanent interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 15
    Applies to: Variable rate home loans

P&N Bank interest rate rise 

  • Rate increase: 50 basis points
    Effective from date: July 26
    Applies to: Variable rate home loans

QBank interest rate rise

  • Rate increase: 50 basis points
    Effective from date: 28 June
    Applies to: Variable rate home loans

St George interest rate rise 

  • Rate increase: 50 basis points
    Effective from date: July 20
    Applies to: Variable rate home loans

Suncorp interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 15
    Applies to: Variable rate home loans

Teachers Mutual Bank interest rate rise

(pending)

UniBank interest rate rise

(pending)

Westpac interest rate rise 

  • Rate increase: 50 basis points
    Effective from date: July 20
    Applies to: Variable rate home loans

 

RBA rate increase June 2022: Non-bank lenders

AFG interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 29
    Applies to: Variable rate home loans

AMMF interest rate rise

(pending)

Angle Finance interest rate rise

(pending)

ASCF (Australian Secure Capital Fund) interest rate rise

(pending)

Banjo Loans interest rate rise

(pending)

Better Mortgage Management interest rate rise

(pending)

Bluestone Mortgages interest rate rise

(pending)

Earlypay interest rate rise

(pending)

Firstmac interest rate rise

  • Rate increase: 25 basis points
    Effective from date: May 18
    Applies to: Variable rate home loans

Flexi commercial interest rate rise

(pending)

funding.com.au interest rate rise

(pending)

Granite Home loans interest rate rise

(pending)

Greenlight Auto Finance interest rate rise

(pending)

Heartland Reverse Mortgages interest rate rise

(pending)

HomeStart Finance interest rate rise

  • Rate increase: 46 basis points (owners occupiers), 50 points (investors)
    Effective from date: June 17
    Applies to: Variable rate home loans

Keystart Finance interest rate rise

(pending)

Latitude Financial interest rate rise

(pending)

La Trobe Financial interest rate rise

(pending)

Liberty Financial interest rate rise

(pending)

Metro Finance interest rate rise

(pending)

MKM interest rate rise

(pending)

Moneyplace interest rate rise

(pending)

Moula interest rate rise

(pending)

NOW Finance interest rate rise

(pending)

Oak Capital interest rate rise

(pending)

Ondeck interest rate rise

(pending)

Pepper Money interest rate rise 

(pending)

Plenti interest rate rise

(pending)

Prime Capital interest rate rise

(pending)

Prospa interest rate rise

(pending)

Resimac interest rate rise

  • Rate increase: 75 basis points
    Effective from date: June 21
    Applies to: Variable rate home loans

RedZed interest rate rise

(pending)

ScotPac Business Finance interest rate rise

(pending)

Shift interest rate rise

(pending)

SocietyOne interest rate rise

(pending)

TrailBlazer finance interest rate rise

(pending)

Virgin Money interest rate rise

  • Rate increase: 50 basis points
    Effective from date: July 9
    Applies to: Variable rate home loans

Wisr interest rate rise

(pending)

86 400 interest rate rise

(pending)

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