By Dave Barbeler
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27 Jul, 2023
With plenty of pundits tipping interest rates will start to fall in the next 12 months, we look at why the big banks are hiking their fixed rates – and unpack what it means for the rate outlook. The past few months have seen interest rates on fixed home loans deliver more ups and downs than a rollercoaster. As recently as April 2023, a number of lenders were starting to cut their fixed rates. Fast forward to July, and the major banks – NAB, Westpac, ANZ and the Commonwealth Bank – have all upped their fixed rates in the past fortnight . Now you won’t find a fixed rate below 6% among the big four banks.