ING raises fixed rates in signal of coming RBA hike
ING lifts fixed-rate home loan interest by 0.2%, signalling banks expect the Reserve Bank to raise the cash rate soon.
ING has increased fixed-rate interest on owner-occupier and investor home loans by 0.2%, effective immediately for loans settling today. A Finder expert said this is a clear signal that banks expect the RBA to raise the cash rate at its September 28-29 meeting.
Banks forecast rate moves and adjust their own rates accordingly: they lower rates when expecting falls and raise them when expecting increases. ING's move makes its loans less competitive than rivals, signalling confidence in an imminent hike.
The RBA has held the cash rate at 4.35% for the past two meetings but earlier this year made three consecutive increases.
- 0.2%
- ING rate increase
- 4.35%
- Current RBA cash rate
- September 28-29
- RBA meeting date
- Two more in 2026
- Citi rate hike forecast
Why it mattersIf banks are correct and the RBA hikes, mortgage costs will rise further for borrowers, affecting monthly repayments and household budgets.
AustraliaAustralian home loan customers may face higher interest rates soon, increasing mortgage stress for millions with variable or soon-to-renew fixed-rate loans.
✓ Claims checked; 1 flagged for review. checked 8 d ago
