The RBA has now delivered three straight rate hikes.
After weeks of predictions flying around, RBA did exactly what many feared and lifted the cash rate again. Bheja called all three hikes, and now borrowers are feeling the pressure as rates climb back to 4.35%.
What stood out in this meeting wasn’t just the rate hike itself. The Board was mostly in agreement, with an 8–1 vote in favour of the increase.
For mortgage holders, this means another repayment increase is likely on the way once banks pass the hike through. And it’s probably not over yet. Westpac has forecast more rate rises in 2026, which could push the cash rate to 4.85% and back to levels last seen in 2008.
So, what do you do now?
While it may seem like all doom and gloom, this may not be the right time to fold your arms and do nothing. Besides actively reviewing your budget and trimming down unnecessary expenses, it could also be worth comparing your home loan options to see if you can secure a lower rate. Even a small difference in interest rates can save borrowers thousands over the life of the loan.
You can also speak to your existing lender to see if they can offer you a better rate. Many borrowers stay on higher rates simply because they never ask. If your financial situation has improved, your property value has increased, or competing lenders are offering lower rates, you may have more negotiating power than you think. Every dollar counts right now.
You should also keep track of when your bank passes on the hike so you know when your repayments will change.
Banks Passing on Rate Changes
See which banks have recently changed their home loan rates
Data from the last 30 days • Updated: 5 May 2026, 11:48 am
Banks with Rate Hikes
Largest Rate Hike
Average Rate Hike
Total Products
Top 10 Banks with Rate Hikes
| Rank | Bank | Hike Range | Max Hike | Avg Hike | Latest Hike | |
|---|---|---|---|---|---|---|
1 | Bank of SydneyMajor Bank 22 products with hikes | 0.25% - 0.50% | +0.50% | 0.27% | 28 Apr 2026 | |
2 | BOQ SpecialistMajor Bank 4 products with hikes | 0.50% | +0.50% | 0.50% | 9 Apr 2026 | |
3 | Bendigo BankMajor Bank 155 products with hikes | 0.25% - 0.40% | +0.40% | 0.32% | 16 Apr 2026 | |
4 | MOVE BankMajor Bank 16 products with hikes | 0.35% | +0.35% | 0.35% | 21 Apr 2026 | |
5 | IMB BankMajor Bank 18 products with hikes | 0.25% - 0.30% | +0.30% | 0.26% | 11 Apr 2026 | |
6 | NATIONAL AUSTRALIA BANKMajor Bank 125 products with hikes | 0.05% - 0.30% | +0.30% | 0.26% | 11 Apr 2026 | |
7 | Judo BankMajor Bank 20 products with hikes | 0.09% - 0.16% | +0.16% | 0.12% | 2 May 2026 | |
8 | St.George BankMajor Bank 100 products with hikes | 0.15% | +0.15% | 0.15% | 23 Apr 2026 | |
9 | BankSAMajor Bank 100 products with hikes | 0.15% | +0.15% | 0.15% | 23 Apr 2026 | |
10 | WestpacMajor Bank 140 products with hikes | 0.15% | +0.15% | 0.15% | 23 Apr 2026 |
Data sourced from 7,531 home loan product variations
Showing 3,361 products with rate hikes in the last 30 days
