ANZ raises fixed rates in early 2018 move

ANZ has increased on its one to five year fixed rates and for fixed owner occupier and investment loans of up to 34 basis points.

Mortgage brokers were advised ANZ was raising fixed rate interest rate deals across its popular Breakfree home loan deals.

On a three-year owner occupier principal and interest fixed-rate deal the rate will jump by 10 basis points from 3.99 per cent to 4.09 per cent.

This is on the popular Breakfree product which is among the bank’s most popular home loans.

Mozo found this will result in repayments on a $300,000 30-year home loan rising by $17 per month, from $1431 to $1448.

While on a three-year investment interest-only fixed-rate deal on a Breakfree loan the rate will also lift by 20 basis points from 4.69 per cent to 4.89 per cent.

Mozo data shows on the same loan size repayments will increase by $50 per month from $1173 to $1223.

This time last year Mozo noted ANZ lifted two year rates by 23 basis points to 3.98% and pumped three year rates up 34bp to 4.19%.