The ANZ has joined rivals Westpac and the Commonwealth bank in moving home loan interest rates.
The ANZ has joined rivals Westpac and the Commonwealth bank in moving home loan interest rates. JOEL CARRETT

ANZ varies rate on home loans

ANZ has followed in the footsteps of the Commonwealth Bank and Westpac, moving interest rates on both owner occupier and investor home loans.

Some of the moves, which come ahead of the Reserve Bank's board meeting on Tuesday, include decreases.

Owner occupiers and investors signing up to interest-only fixed rate deals will be the worst hit, with some hikes as high as 0.4%.

On two, four and five-year fixed owner occupier interest-only loans, the rates will rise by 0.4% on the bank's Breakfree products - one of the bank's most popular products.

Three-year owner occupier interest- only loans will rise by 0.3% to 4.49%.

For investors on fixed-rate interest- only Breakfree deals, the three-year fixed rate will rise by 0.3% to 4.69%.

For both owner occupiers and investors on principal and interest-fixed rate deals, rates on nearly all these products will fall.

The three-year fixed rate owner occupier principal and interest deal will fall by 0.2% to 3.99%.

On a three-year fixed rate investor principal and interest deal the rate will fall by 0.1% to 4.44%.

- Sophie Elsworth, News Corp



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