Macquarie Bank Raises Fixed Rates Again, Marking Second Increase in Three Weeks

September 24, 2026 - 12:07

Macquarie Bank has increased its fixed home loan rates for the second time in less than a month, a move that analysts describe as a troubling signal for borrowers hoping for relief from rising repayment costs.

The bank lifted its fixed rates earlier this month and has now confirmed another round of increases, pushing its fixed offerings higher across multiple loan terms. The back to back adjustments mean borrowers who lock in a rate today will pay noticeably more than those who secured a deal just a few weeks ago.

The decision follows broader pressure on lenders as funding costs remain elevated. While the Reserve Bank has held the cash rate steady in recent meetings, fixed rate pricing does not always move in step with the official cash rate. Banks price fixed loans based on wholesale funding markets and long term bond yields, both of which have drifted upward in recent weeks.

For homeowners, the shift matters. Fixed rates offered some certainty during a period of volatile variable pricing, but that window is narrowing. Borrowers considering a fixed loan may now face a smaller gap between fixed and variable options, reducing the incentive to lock in.

Economists note that repeated hikes from major lenders can influence competitors to follow suit. If other banks match Macquarie's move, the cost of new fixed loans could climb across the market within days.

The development adds further strain for households already managing higher repayments. Analysts suggest borrowers review their current arrangements and compare offers carefully before committing, since conditions are changing quickly.