Similarly, ANZ has raised its fixed mortgage rates by up to 35 basis points. These adjustments reflect the banks' responses to the RBA's stance and evolving economic conditions.

For borrowers, these rate hikes mean higher costs for new fixed-rate mortgages. It's essential for prospective and current homeowners to stay informed about such changes and consider their options carefully. Consulting with financial advisors or mortgage brokers can provide tailored advice to navigate these developments effectively.