On Tuesday 3 November 2026, the Reserve Bank of Australia announced it would be lifting the cash rate by 0.25% to to 4.85%.
On an average loan of $731,000, each 0.25% hike has added around $114 to monthly repayments. After five hikes, borrowers will need to find an extra $584 a month compared with the start of the year.
If the full increase applied for 12 months, those borrowers would spend roughly $7,000 more on their repayments. Instead of chipping away at the principal, that money would be eaten up by interest.
Impact of rate rises on Australian mortgage repayments
| Loan size | Monthly impact of a 0.25% rate increase | Monthly impact of x2 0.25% rate increases (0.50%) | Monthly impact of x3 0.25% rate increases (0.75%) | Monthly impact of x4 0.25% rate increases (1%) | Monthly impact of x5 0.25% rate increases (1.25%) |
| $500,000 | $78 | $157 | $237 | $318 | $399 |
| $600,000 | $94 | $188 | $284 | $381 | $479 |
| $750,000 | $117 | $235 | $355 | $476 | $599 |
| $900,000 | $140 | $282 | $426 | $572 | $719 |
| $1,000,000 | $156 | $314 | $473 | $635 | $799 |
| *Calculations assume an owner-occupied loan with a variable interest rate starting at 5.25% that is increased by 0.25% a month. It assumes a 30-year loan term, with no ongoing fees. This does not take into account the reduction of the loan balance over time. | |||||
Compare the Market is tracking interest rate movements from some of Australia’s biggest banks and lenders. How are the banks moving? Watch this space to find out.
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Big four bank moves
ANZ
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Customers impacted: TBC
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Commonwealth Bank
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NAB
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Westpac
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Other lender moves
AFG
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AMP
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Auswide Bank
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Bank of Melbourne
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Customers impacted: TBC
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Bank SA
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Bankwest
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Bendigo Bank
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Customers impacted: TBC
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HSBC
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ING
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Macquarie
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ME
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Pepper Money
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Customers impacted: TBC
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St. George
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Customers impacted: TBC
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Suncorp
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Customers impacted: TBC
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Ubank
Rate move: TBC
Customers impacted: TBC
Effective from: TBC
All banks and lenders may not be included in this list. We’ve included the lenders on our panel.
The information on this page is general only – check with your lender for further details on their interest changes and how you might be affected.
This page was last updated 6 May 2026.
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