ANZ Lifts All Fixed Rates Above 6% — What Borrowers Need to Know Before Locking In

ANZ Lifts All Fixed Rates Above 6% — What Borrowers Need to Know Before Locking In

ANZ has raised all its fixed mortgage rates above the 6% threshold, according to reports from Australian Broker (1 April 2026). The move comes in the wake of the RBA's March 2026 rate hike to 4.10% and signals that Australia's major lenders expect borrowing costs to remain elevated through 2026.

What ANZ's Move Signals

When a major bank reprices its fixed rate book upward — ahead of any official rate decision — it typically reflects two things:

1. Funding cost pressure: Banks price fixed rates based on wholesale funding markets, which have been pricing in a higher-for-longer rate environment since the RBA's March hike.
2. Risk pricing: Lenders are factoring in the possibility of further RBA hikes — with the next decision due 5 May 2026 — into their fixed rate offerings.

The RBA's own minutes from the March meeting (released 31 March 2026) described the rate hike as a "finely balanced" decision, driven largely by oil shock inflation concerns. This uncertainty is now reflected in ANZ's rate card.

Fixed vs Variable: What Should Borrowers Do?

There is no universally correct answer — but here is the framework to consider:

Current RBA cash rate: 4.10% (as at 18 March 2026)

Given that the RBA itself is signalling it is near the peak of the tightening cycle, locking in a fixed rate above 6% may mean paying a premium if a pause or cut materialises. However, for borrowers who need certainty — particularly those with tight household budgets — fixing part of the loan can provide peace of mind.

What This Means for Self-Employed and Non-Bank Borrowers

Self-employed borrowers and those using Alt Doc products at non-bank lenders typically have less access to long-term fixed rate options compared to customers of the Big 4 banks. However, non-bank lenders often offer competitive variable rates with more flexible qualification criteria.

At MPFG Capital, our products are structured around the borrower's actual cashflow and income documentation — not just a payslip and a credit score. This makes non-bank loans a practical alternative for borrowers who may not fit the ANZ or Big 4 fixed-rate box.

Key Dates to Watch

• 5 May 2026: Next RBA Monetary Policy Board meeting
• 29 April 2026: March quarter CPI release — the primary input for the May rate decision
• If CPI is below 3.5%: Pause probability increases significantly
• If CPI holds above 3.7%: Further hike risk remains

This article references publicly reported rate changes and RBA data. It does not constitute financial advice. Speak to a licensed mortgage broker to assess your individual situation.