Homeowners and first-home buyers are facing fresh pressure, with ANZ increasing a range of its fixed home loan rates in a move that signals ongoing strain in the lending market.

The country’s largest bank has lifted rates across several fixed terms, following rising wholesale funding costs and continued volatility in global financial markets.

The changes affect key lending periods from one year through to five years, with both special and standard rates pushed higher, adding to repayment costs for borrowers already navigating a challenging economic environment.

At the same time, ANZ has increased some term deposit rates, reflecting stronger competition for savings as banks adjust to shifting market conditions.

The move follows similar rate hikes by other major banks, pointing to a broader trend across the sector as institutions respond to higher funding costs and uncertainty in interest rate outlooks.

For households, the increase is likely to compound cost-of-living pressures, particularly for those coming off lower fixed rates and needing to refix at higher levels.

While many borrowers are still benefiting from earlier periods of lower interest rates, the latest adjustments highlight the fragile balance in the housing market and the wider economy.

With inflation, fuel prices and global instability continuing to influence financial markets, further changes to lending rates remain a possibility in the months ahead.

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