Which lenders changed their advertised rates?
Westpac, NAB and Macquarie each lifted the variable rates shown below by 0.25 percentage points. Fixed rates were more varied: NAB and Regional Australia Bank increased these fixed offers by 0.32 points, while BankVic cut its two-year interest rate.
| Lender | Selected loan | Advertised rate | Comparison rate |
|---|
| Westpac | Rocket Repay with Premier Advantage Package · variable70%–80% LVR | 6.49% → 6.74%up 0.25 pp | 6.86% → 7.11%up 0.25 pp |
|---|
| NAB | Tailored Home Loan · variableUp to 80% LVR | 6.99% → 7.24%up 0.25 pp | 7.12% → 7.36%up 0.24 pp |
|---|
| Macquarie Bank | Basic Home Loan · variableUp to 80% LVR | 6.09% → 6.34%up 0.25 pp | 6.11% → 6.36%up 0.25 pp |
|---|
| NAB | Tailored Home Loan · two-year fixedUp to 80% LVR | 6.49% → 6.81%up 0.32 pp | 7.01% → 7.28%up 0.27 pp |
|---|
| Regional Australia Bank | Home Loan Fixed · three-year fixed70%–80% LVR | 6.09% → 6.41%up 0.32 pp | 6.08% → 6.35%up 0.27 pp |
|---|
| BankVic | Fixed Rate Owner Occupier · two-year fixedUp to 80% LVR | 6.39% → 6.09%down 0.30 pp | 6.20% → 6.35%up 0.15 pp |
|---|
Rates per year, comparing 1 October → 30 October. These examples are for owner-occupiers refinancing a principal-and-interest loan, with loan-size limits that include $600,000. LVR means loan-to-value ratio: the loan amount as a share of the property’s value. Other conditions, fees and lending criteria apply. “pp” means percentage points. This is a selection of loans, not each lender’s full range or a ranking of recommended products.
Comparison rate warning: These comparison rates are true only for the source examples and may not include all fees and charges. Different loan amounts, terms and fees may result in different comparison rates.
BankVic is a useful reminder to read both rate columns. Its two-year fixed interest rate fell from 6.39% to 6.09%, but the comparison rate went up from 6.20% to 6.35%. The data doesn’t tell us why the two moved in opposite directions.
A comparison rate includes certain fees and uses standard loan assumptions. For a fixed loan, it can also take account of the rate after the fixed period ends. These are the comparison rates in the supplied data; we haven’t recalculated them for a $600,000 loan. A lower interest rate won’t always mean a similar fall in the loan’s overall cost.
How refinance rates compared
For the comparison below, we used a $600,000 principal-and-interest refinance loan at 75% LVR. The median — the middle rate in each group — rose from 6.19% to 6.44% for owner-occupier variable loans, and from 6.38% to 6.59% for investor variable loans.
The median also rose for all five fixed terms shown. We compared the same loan options at the beginning and end of October, with separate results for each fixed term. The change in the middle rate won’t be the change for every loan.
| Rate type | Owner occupier1 Oct → 30 Oct | Investor1 Oct → 30 Oct |
|---|
| Variable | 6.19%→6.44%141 records · 71 lenders | 6.38%→6.59%117 records · 62 lenders |
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| 1 year fixed | 6.49%→6.57%66 records · 48 lenders | 6.69%→6.74%57 records · 46 lenders |
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| 2 year fixed | 6.54%→6.64%68 records · 49 lenders | 6.69%→6.77%56 records · 45 lenders |
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| 3 year fixed | 6.64%→6.74%66 records · 47 lenders | 6.79%→6.84%55 records · 44 lenders |
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| 4 year fixed | 6.74%→6.89%44 records · 29 lenders | 6.84%→6.99%37 records · 28 lenders |
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| 5 year fixed | 6.84%→6.94%57 records · 40 lenders | 6.99%→7.04%48 records · 37 lenders |
|---|
Median advertised annual rates, rounded to two decimal places. The counts under each figure show how many loan options and lender or brand names are included. Each loan option has equal weight, regardless of lender size or how much customers have borrowed.
We included loans listed for refinancing, with principal-and-interest repayments and loan limits that cover $600,000. The example uses 75% LVR within the source’s 70%–80% group. We checked loan limits and product descriptions for conflicting conditions. The loans included can change from month to month, so October’s starting figures may differ from September’s closing figures.
Why rates changedThe banks followed September’s RBA rise
The RBA raised the cash rate by 0.25 percentage points on 29 September, to 4.60%, effective 30 September. There was no October policy decision. ANZ, Commonwealth Bank, NAB and Westpac announced 0.25-point variable home loan increases effective 9 October.
The advertised ANZ and Commonwealth Bank rates we compared were unchanged between 1 and 30 October. That doesn’t mean their customers avoided a rate rise. Both banks’ official notices confirm increases effective 9 October.
The supplied data doesn’t explain why ANZ and Commonwealth Bank’s figures show no change. There are timing differences elsewhere too: NAB’s variable increase in the table first appears in the data on 10 October, a day after its announced effective date. For the date a change applies to your loan, check your lender’s notice.
What could this mean for your repayments?
Returning to the $600,000 example, monthly repayments on a principal-and-interest loan with 30 years left would be about $3,671 at 6.19%. At 6.44%, they would be about $3,769 — an extra $98 a month.
This uses the quarter-point rise in our owner-occupier variable refinance comparison. It assumes monthly repayments and a constant rate, with no fees or offset balance. Your own repayment change will depend on your balance, remaining term and repayment arrangements, as well as the change your lender announces.
If you already have a home loan, start with the new rate and the date it takes effect on your lender’s notice. When you compare other loans, use the same loan amount, repayment type, borrowing purpose and LVR. Then look at fees, any offset account you use, the cost of switching and how long you have left to repay. Those details can change how much a lower rate would actually save you.
If you’re thinking about fixing your rate, compare the same fixed term and check the cost of changing the loan before that term ends. Also look at what happens to the rate afterwards. As BankVic’s example shows, a lower interest rate can come with a higher comparison rate. Our current home-loan rates page is the place to start if you’re comparing loans now.
What to watch nextThe next RBA decision is on 3 November
At the time of publication on 2 November, the next RBA decision is due on 3 November 2026 at 2:30 pm Sydney time. This report doesn’t include that decision. We’ll look at November’s lender changes in the next monthly report.
Sources and methodology
We reviewed advertised rates supplied for 27 dates from 1 to 30 October 2026. Data was missing for 4, 18, 25 and 31 October. To compare the same loan options on 1 and 30 October, we matched the lender, product, borrower and loan purpose, repayment type, rate type and fixed term, LVR and loan-size limits. Three exact duplicates in the 30 October file were removed.
The overall comparison includes 9,444 matched records across 99 lender and brand names; 101 names appear during the month. Of those records, 4,350 rose, 55 fell and 5,039 stayed the same. That means 98.8% of the rates that changed went up, while 46.1% of all compared rates rose. More than half were unchanged. The comparison measures the difference between 1 and 30 October, so it won’t show every change made in between. Each product, purpose and set of eligibility conditions counts separately and has equal weight. Lenders with more entries therefore have more influence; the results aren’t weighted by market share or loan balances. A missing or renamed entry doesn’t by itself tell us that a loan was launched or withdrawn.
For variable rates, 2,548 of 3,410 records rose, 36 fell and 826 stayed the same. A rise of 0.25 percentage points was the most common change, appearing in 2,258 records. For fixed rates, 1,802 of 6,034 records rose, 19 fell and 4,213 stayed the same. The median change among fixed rates that moved was an increase of 0.20 percentage points, across different fixed terms and borrower groups.
The refinance comparison uses 812 records across the two borrower groups and six rate types shown. We excluded another 67 because their descriptions conflicted with the comparison’s conditions, such as LVR or deposit limits, borrower or loan purpose, repayment type, rate type or fixed term. Those extra exclusions apply only to the refinance comparison. Checking the descriptions helps us compare similar loans, but doesn’t confirm that an individual borrower qualifies.
These are historical advertised rates. They don’t show approved or negotiated rates, or the average rate households pay. Each median uses the same loan options at the beginning and end of October and is rounded half-up to two decimal places. Comparison rates come from the supplied data and aren’t personalised calculations. The repayment example excludes fees. Official lender notices give the announced effective dates; our rate files show when advertised prices appeared in the data.
General information only. This report looks at historical advertised rates. It is not personal financial advice, a lender recommendation or confirmation that a loan is available or that you qualify.
Previous reports: September 2026 · August 2026 · All original reports
