More banks expected to follow as funding costs rise
Macquarie Bank is the first major lender to confirm that it is passing through today’s 25-basis-point interest rate hike from the Reserve Bank of Australia (RBA).
“Following the RBA’s decision on 5 May 2026, we’re increasing our variable home loan reference rates by 0.25% p.a., effective 22 May 2026,” said Macquarie Bank.
Commonwealth Bank, meanwhile, said it is “currently reviewing” its mortgage rates “and will share an update soon”.
