Which banks have not passed on the latest mortgage interest rate increase to customers? – real estate.com.au

ANALYSIS

Some banks were slow to pass on rate cuts to borrowers last year, with some lenders waiting weeks or even months before providing long-awaited mortgage relief to their customers.

History teaches us that interest rate increases, however, are a different story.

Banks tend to waste no time in passing on a rate hike, with some not even waiting for the RBA before they start raising rates.

I’m looking at you, the 54 lenders who have increased interest rates on some of their loan products in the fortnight leading up to the RBA’s first meeting of the year in February.

Last year, our shame list shone a light on lenders who were dragging the chain or trying to get away with partial interest rate cuts for borrowers, rather than passing on the full 0.25 percent cuts.

MORE:RBA warned it is playing with fire

What will your bank do now that interest rates are rising again? Photo: William West

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SCROLL DOWN TO SEE IF YOUR SUPPLIER HAS INCREASED PRICES

Now that the cash rate has been increased to 3.85 percent, we thought we would see if it would take as long for them to take action, or if, against hope, they would decide not to implement a rate hike, or at least not to implement it completely.

But don’t get your hopes up, says Graham Cooke, head of consumer research at Finder.

“Previous research from Finder shows that Australia’s largest banks have been quick to pass on the full impact of rate increases, while often not fully passing on rate cuts. This has had a major impact on borrowers with variable rate home loans,” Cooke said. “The data shows that banks were less generous during the good times, when the RBA repeatedly cut cash rates in 2019 and 2020. The Big Four passed on less than the full cut for several months.

MORE:The wild price tag of Aus homes

All eyes are now on the banks. Photo: Britta Campion

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“By 2025, however, almost all banks have passed on the full cut due to the enormous pressure on them due to the cost of living crisis. So times have changed.”

Mr Cooke said banks justify their actions by pointing to their own funding costs and their legal obligations to their profits and shareholders.

“While it doesn’t seem fair that banks have traditionally been better at passing on rate increases than rate cuts, the big banks are balancing a wide range of customer needs. This includes the need to keep savings rates at a certain level, which tends to fall when home loan rates rise and vice versa,” he said.

MORE:A large proportion of households have debts of more than $1 million

“Whether you have a home loan with a Big Four bank or a small online lender, getting a good deal is ultimately the borrower’s responsibility. Other research from Finder has shown that the difference between the average and lowest interest rates on the market is equivalent to one interest rate reduction. If your interest rate rises, switching can be a hedge against that.”

Graham Cooke, head of consumer research at Finder.

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Lenders for Hiking – BEST PRICES% (for 80% LVR owner loans, paying principal and interest)

TBA

Lenders still to rise – BEST PRICES % (for 80% LVR owner loans, paying principal and interest)

AMP – 5.43

ANZ-5.5

Arab Bank of Australia – 8.54

Athens – 5.64

Australia – 5.33

Australian Military Bank – 6.39

Australian Mutual Bank – 5.24

Auswide Bank – 5.34

Bank Australia – 5.39

Bank first – 5.34

Bank of China Limited – 5.18

Bank of Melbourne – 5.64

Bank of Queensland – 5.38

Bank of Sydney – 5.29

Sofa from us – 5.39

Bank Orange – 5.39

BankSA- 5.64

BankVic – 5.35

BankWAW- 5.24

Bankwest – 5.49

BCU Bank – 5.29

Bendigo Bank – 5.38

Beyond the Bank – 5.59

Bluestone – 6.29

Border Bank – 5.09

Broken Hill Bank – 6.39

Cairns Bank – 5.54

Central Murray Bank – 5.49

Central West Credit Union- 6.65

Coastline bench – 5.49

CommBank – 5.39

Community First – 5.24

Credit Union SA- 5.39

Darling Downs Bank – 5.64

Defense bench – 5.69

Dnister – 5.54

Easy Street – 5.34

Family First Credit Union – 5.40

Fire Department Credit Union – 5.49

Firefighters mutual bank – 5.44

First Option Bank- 5.44

Firstmac- 5.68

Freedom Loan – 5.14

G&C Mutual Bank – 4.99

Gateway Bank – 5.44

Geelong Bank – 5.74

Goulburn Murray Credit Union – 5.44

Great Southern Bank – 5.49

Bigger Bank – 5.19

Heritage bank – 5.34

homeloans.com.au – 5.74

Homestar – 5.34

Horizon Bank – 5.14

HSBC – 5.34

Hume Bank – 5.34

Illawarra Credit Union – 5.24

IMB – 5.29

ING – 5.39

La Trobe Financial- 5.69

Laboratories Credit Union – 5.10

Liberty Financial – 5.74

loans.com.au- 5.29

Macquarie Bank – 5.39

ME- 5.38

Mortgage House – 5.19

MOVE Bank- 5.14

MyState- 5.34

NAB- 5.69

Newcastle Permanent- 5.24

Northern Inland Credit Union- 5.24

NRMA Home Loans – 5.33

P&N Bank – 5.44

Pacific Mortgage Group – 5.14

People’s Choice Credit Union – 5.34

Pepper money – 6.34

Police bench – 5.09

Police Credit Union – 5.24

Qantas Money – 5.48

QBANK – 5.34

Qudos Bank – 5.29

Queensland Country Bank – 5.19

RACQ Bank – 5.29

Reduce home loans – 5.29

Regional Australia Bank – 5.34

Resi- 6.34

RESIMAC – 5.74

Southwest Slope Bank – 5.10

Southern Cross Credit Union- 5.48

St. George – 5.64

Sucasa – 5.64

Summerland Bank – 5.29

Suncorp Bank – 5.40

Teachers mutual bank – 5.44

The Capricorn – 5.34

The Mac – 5.17

The mutual bank – 5.19

Home on time – 5.29

Transport Mutual Credit Union – 5.14

Bank- 5.39

UniBank – 5.44

Unity Bank- 4.99

Borrowing – 5.19

Bank up – 5.20

Virgin money – 5.19

Well, money – 5.44

Westpac – 5.34

WLTH – 5.50

Yard- 6.43

Yellow Brick Road – 6.34

View the full list here