RBA rate tracker: every lender passing on the May 2026 cash rate hike
Home loan rates are going up (and savings rates too) - we're tracking every bank and lender's rate hikes as they happen
Key takeaways
- The Reserve Bank increased the cash rate to 4.35% on 5 May 2026.
- Home loans are increasing as a result. We're tracking every lender announcement right here.
- Macquarie Bank was the first to announce a 25 basis point hike. Check back in as lenders begin to announce their rate moves.
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Which lenders have announced a rate increase?
Search for your lender in the table below. We will update this table as lenders announce rate hikes.
Why the Reserve Bank raised the cash rate in May 2026
Inflation is simply too high. In the latest inflation statistics, released just a week before the RBA's meeting, headline inflation was 4.6% in the last 12 months.
That's a big jump from 3.7% the previous month. The RBA wants inflation somewhere below 3%.
More rate increases on the horizon
This is now the third cash rate hike this year, and probably not the last. The Iran War has sent fuel prices soaring. And while they're coming back down now, the conflict seems far from over and will likely have long-term inflationary effects.
Housing costs are also a major driver of inflation. So more rate increases could be on the cards this year in order to finally get inflation under control.
What should I do about my home loan?
- Wait. Lenders will announce rate hikes in the coming days. While almost every lender will increase variable home loan rates by 25 basis points, it's possible some lenders will hold off or raise rates by less than that amount.
- Crunch the numbers. While you wait, you can look at your current home loan repayments and a repayment calculator. Estimate how much more your repayments will be with a 25 basis point increase. This helps you budget for these increases and prepare accordingly.
- Start comparing. Once your lender does pass on the rate increase it's a good idea to start shopping around. Some lenders may be offering better deals for new customers. So even if you can't avoid rising rates completely you can still save a bit.
Sources
More resources on Finder
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