{"id":5292,"date":"2023-07-27T10:08:50","date_gmt":"2023-07-27T00:08:50","guid":{"rendered":"https:\/\/financialplus.com.au\/?p=5292"},"modified":"2023-07-27T10:08:50","modified_gmt":"2023-07-27T00:08:50","slug":"why-are-fixed-rates-still-rising-and-when-might-they-drop-again","status":"publish","type":"post","link":"https:\/\/financialplus.com.au\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/","title":{"rendered":"Why are fixed rates still rising? And when might they drop again?"},"content":{"rendered":"

\"\"With plenty of pundits tipping interest rates will start to fall in the next 12 months, we look at why the big banks are hiking their fixed rates \u2013 and unpack what it means for the rate outlook.<\/strong><\/p>\n

The past few months have seen interest rates on fixed home loans deliver more ups and downs than a rollercoaster.<\/p>\n

As recently as April 2023, a number of lenders were starting to cut their fixed rates.<\/p>\n

Fast forward to July, and the major banks \u2013 NAB, Westpac, ANZ and the Commonwealth Bank \u2013 have all upped their fixed rates in the\u00a0past fortnight<\/a>.<\/p>\n

Now you won\u2019t find a fixed rate below 6% among the big four banks.<\/p>\n

But aren\u2019t interest rates expected to fall?<\/h3>\n

Home owners battling high rates are generally being urged to \u201chang in there\u201d because interest rates are expected to slide down from their current highs over the next 18 months.<\/p>\n

Westpac is\u00a0predicting<\/a>\u00a0the Reserve Bank\u2019s cash rate will drop to 3.85% by the end of next year.<\/p>\n

Better still, NAB is\u00a0anticipating<\/a>\u00a0the cash rate could dip to 3.10% by late 2024.<\/p>\n

So \u2026 why are fixed rates rising then?<\/h3>\n

Some lenders are stepping up their fixed rates because they believe rates may go higher before they trend lower.<\/p>\n

NAB and Westpac are both tipping the cash rate, currently sitting at 4.10%, could go as high as 4.60% by the end of the year.<\/p>\n

Over at the Commonwealth Bank, the\u00a0expectation<\/a>\u00a0is for one more rate hike, taking the cash rate to 4.35%, with a chance the cash rate may ratchet up to 4.60%.<\/p>\n

This can all be confusing. The main point is that the prospect of rates heading higher before they head south again is a key factor driving some fixed rates higher.<\/p>\n

What should I do?<\/h3>\n

The first step is to bear in mind that forecasts are just that \u2013 predictions. Not even the banks have foolproof crystal balls.<\/p>\n

And the\u00a0recent news<\/a>\u00a0that inflation slowed in the June 2023 quarter, with quarterly price rises being the lowest since September 2021, could see the Reserve Bank ease back on the interest rate dial. It could even bring fixed rates back down.<\/p>\n

It\u2019s also worth pointing out that not every lender is lifting their fixed rates.<\/p>\n

A number of smaller lenders have trimmed their fixed rates, with some still offering rates below 6.0%.<\/p>\n

That\u2019s why it\u2019s so important to get in touch so we can help you explore a wide range of lenders and loan products.<\/p>\n

Your next step<\/h3>\n

Locking in your loan rate can bring certainty to your budget, and eliminate the stress of the rollercoaster rate ride.<\/p>\n

If you\u2019re not sure whether to go variable or fixed \u2013 or a combination of both \u2013 get in touch to see how the numbers stack up for your situation.<\/p>\n

Disclaimer:<\/strong>\u00a0The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.<\/p>\n","protected":false},"excerpt":{"rendered":"

With plenty of pundits tipping interest rates will start to fall in the next 12 months, we look at why the big banks are hiking their fixed rates \u2013 and unpack what it means for the rate outlook. The past few months have seen interest rates on fixed home loans deliver more ups and downs […]<\/p>\n","protected":false},"author":23,"featured_media":5293,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[110],"tags":[],"class_list":{"0":"post-5292","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-home-loans","8":"entry"},"yoast_head":"\nWhy are fixed rates still rising? And when might they drop again? · FinancialPlus Mortgage Broker Gold Coast<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why are fixed rates still rising? And when might they drop again? · FinancialPlus Mortgage Broker Gold Coast\" \/>\n<meta property=\"og:description\" content=\"With plenty of pundits tipping interest rates will start to fall in the next 12 months, we look at why the big banks are hiking their fixed rates \u2013 and unpack what it means for the rate outlook. The past few months have seen interest rates on fixed home loans deliver more ups and downs […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/\" \/>\n<meta property=\"og:site_name\" content=\"FinancialPlus Mortgage Broker Gold Coast\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-27T00:08:50+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Fixed-rate-July-2023.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"733\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"FinancialPlus\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"FinancialPlus\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/financialplus.com.au\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/\"},\"author\":{\"name\":\"FinancialPlus\",\"@id\":\"https:\/\/financialplus.com.au\/#\/schema\/person\/7b0d029a6587cbef16ed101f41756057\"},\"headline\":\"Why are fixed rates still rising? And when might they drop again?\",\"datePublished\":\"2023-07-27T00:08:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/financialplus.com.au\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/\"},\"wordCount\":570,\"publisher\":{\"@id\":\"https:\/\/financialplus.com.au\/#organization\"},\"image\":{\"@id\":\"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Fixed-rate-July-2023.jpg?fit=1100%2C733&ssl=1\",\"articleSection\":[\"Home Loans\"],\"inLanguage\":\"en-AU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/financialplus.com.au\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/\",\"url\":\"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/\",\"name\":\"Why are fixed rates still rising? And when might they drop again? · FinancialPlus Mortgage Broker Gold Coast\",\"isPartOf\":{\"@id\":\"https:\/\/financialplus.com.au\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Fixed-rate-July-2023.jpg?fit=1100%2C733&ssl=1\",\"datePublished\":\"2023-07-27T00:08:50+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#breadcrumb\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Fixed-rate-July-2023.jpg?fit=1100%2C733&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Fixed-rate-July-2023.jpg?fit=1100%2C733&ssl=1\",\"width\":1100,\"height\":733},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/financialplus.com.au\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why are fixed rates still rising? And when might they drop again?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/financialplus.com.au\/#website\",\"url\":\"https:\/\/financialplus.com.au\/\",\"name\":\"Financial Plus Mortgage Broker Gold Coast\",\"description\":\"Gold Coast mortgage broker - home loans, car loans, commercial loans, business loans, first home buyers\",\"publisher\":{\"@id\":\"https:\/\/financialplus.com.au\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/financialplus.com.au\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-AU\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/financialplus.com.au\/#organization\",\"name\":\"Financial Plus\",\"url\":\"https:\/\/financialplus.com.au\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/financialplus.com.au\/#\/schema\/logo\/image\/\",\"url\":\"http:\/\/financialplus.com.au\/\/wp-content\/uploads\/financial-plus-logo.png\",\"contentUrl\":\"http:\/\/financialplus.com.au\/\/wp-content\/uploads\/financial-plus-logo.png\",\"width\":400,\"height\":98,\"caption\":\"Financial Plus\"},\"image\":{\"@id\":\"https:\/\/financialplus.com.au\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/financialplus.com.au\/#\/schema\/person\/7b0d029a6587cbef16ed101f41756057\",\"name\":\"FinancialPlus\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/financialplus.com.au\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/40c4914d8dd124d0c5d1cd35c19fc63a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/40c4914d8dd124d0c5d1cd35c19fc63a?s=96&d=mm&r=g\",\"caption\":\"FinancialPlus\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why are fixed rates still rising? And when might they drop again? · FinancialPlus Mortgage Broker Gold Coast","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/","og_locale":"en_US","og_type":"article","og_title":"Why are fixed rates still rising? And when might they drop again? · FinancialPlus Mortgage Broker Gold Coast","og_description":"With plenty of pundits tipping interest rates will start to fall in the next 12 months, we look at why the big banks are hiking their fixed rates \u2013 and unpack what it means for the rate outlook. The past few months have seen interest rates on fixed home loans deliver more ups and downs […]","og_url":"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/","og_site_name":"FinancialPlus Mortgage Broker Gold Coast","article_published_time":"2023-07-27T00:08:50+00:00","og_image":[{"width":1100,"height":733,"url":"http:\/\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Fixed-rate-July-2023.jpg","type":"image\/jpeg"}],"author":"FinancialPlus","twitter_card":"summary_large_image","twitter_misc":{"Written by":"FinancialPlus","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#article","isPartOf":{"@id":"https:\/\/financialplus.com.au\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/"},"author":{"name":"FinancialPlus","@id":"https:\/\/financialplus.com.au\/#\/schema\/person\/7b0d029a6587cbef16ed101f41756057"},"headline":"Why are fixed rates still rising? And when might they drop again?","datePublished":"2023-07-27T00:08:50+00:00","mainEntityOfPage":{"@id":"https:\/\/financialplus.com.au\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/"},"wordCount":570,"publisher":{"@id":"https:\/\/financialplus.com.au\/#organization"},"image":{"@id":"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Fixed-rate-July-2023.jpg?fit=1100%2C733&ssl=1","articleSection":["Home Loans"],"inLanguage":"en-AU"},{"@type":"WebPage","@id":"https:\/\/financialplus.com.au\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/","url":"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/","name":"Why are fixed rates still rising? And when might they drop again? · FinancialPlus Mortgage Broker Gold Coast","isPartOf":{"@id":"https:\/\/financialplus.com.au\/#website"},"primaryImageOfPage":{"@id":"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#primaryimage"},"image":{"@id":"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Fixed-rate-July-2023.jpg?fit=1100%2C733&ssl=1","datePublished":"2023-07-27T00:08:50+00:00","breadcrumb":{"@id":"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#breadcrumb"},"inLanguage":"en-AU","potentialAction":[{"@type":"ReadAction","target":["https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/"]}]},{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#primaryimage","url":"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Fixed-rate-July-2023.jpg?fit=1100%2C733&ssl=1","contentUrl":"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Fixed-rate-July-2023.jpg?fit=1100%2C733&ssl=1","width":1100,"height":733},{"@type":"BreadcrumbList","@id":"https:\/\/finance-matters.info\/2023\/07\/26\/why-are-fixed-rates-still-rising-and-when-might-they-drop-again\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/financialplus.com.au\/"},{"@type":"ListItem","position":2,"name":"Why are fixed rates still rising? And when might they drop again?"}]},{"@type":"WebSite","@id":"https:\/\/financialplus.com.au\/#website","url":"https:\/\/financialplus.com.au\/","name":"Financial Plus Mortgage Broker Gold Coast","description":"Gold Coast mortgage broker - home loans, car loans, commercial loans, business loans, first home buyers","publisher":{"@id":"https:\/\/financialplus.com.au\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/financialplus.com.au\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-AU"},{"@type":"Organization","@id":"https:\/\/financialplus.com.au\/#organization","name":"Financial Plus","url":"https:\/\/financialplus.com.au\/","logo":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/financialplus.com.au\/#\/schema\/logo\/image\/","url":"http:\/\/financialplus.com.au\/\/wp-content\/uploads\/financial-plus-logo.png","contentUrl":"http:\/\/financialplus.com.au\/\/wp-content\/uploads\/financial-plus-logo.png","width":400,"height":98,"caption":"Financial Plus"},"image":{"@id":"https:\/\/financialplus.com.au\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/financialplus.com.au\/#\/schema\/person\/7b0d029a6587cbef16ed101f41756057","name":"FinancialPlus","image":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/financialplus.com.au\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/40c4914d8dd124d0c5d1cd35c19fc63a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/40c4914d8dd124d0c5d1cd35c19fc63a?s=96&d=mm&r=g","caption":"FinancialPlus"}}]}},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Fixed-rate-July-2023.jpg?fit=1100%2C733&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pfCavx-1nm","_links":{"self":[{"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/posts\/5292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/comments?post=5292"}],"version-history":[{"count":1,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/posts\/5292\/revisions"}],"predecessor-version":[{"id":5294,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/posts\/5292\/revisions\/5294"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/media\/5293"}],"wp:attachment":[{"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/media?parent=5292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/categories?post=5292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/tags?post=5292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}