Westpac has just nudged up several of its fixed home loan rates by as much as 0.35 percentage points, meaning the lowest fixed rates it offers have now jumped above 5%.
The bank says the shift reflects higher funding costs and the need to stay in step with market conditions.
For borrowers considering locking in a fixed rate, this move sends a timely reminder: the ultra-low fixed-rate era may be winding down, and the cost of certainty is creeping up.
Whilst we see very little fixed interest from our clients, those leaning toward fixing all or a portion of their home loan, might now be reviewing their rationale.
In this week’s newsletter, we take a look at which lenders are gaining market share, and which of the smaller players are starting to make waves.
Ever wondered which lenders are really picking up pace right now? A recent snapshot of Australian Prudential Regulation Authority (APRA) figures shows some players in the home-loan market are growing their books much faster than others.
One of the standouts is Macquarie Bank, which continues to expand its mortgage portfolio at a strong clip, placing it among the fastest-growing lenders in the country.
Meanwhile, other institutions are holding steady, or even seeing their loan books shrink, meaning the growth is anything but uniform across the sector.
CBA grew its total lending book by approx. 0.51% in the month measured – the strongest among the “big-four” in the dataset.
Non-major lender ING Australia also posted impressive growth in September, with its mortgage portfolio climbing by around 1.18% for the month.
What’s driving this growth?
A few things: lenders with strong digital platforms, strong broker networks, or niche-focus strategies are gaining ground. Also, with competition intense and borrower demand evolving, lenders that move quickly and adapt seem to be reaping the rewards.
For brokers, builders and borrowers alike, this kind of growth matters.
It signals where capacity and appetite exist, where underwriting is active, and potentially where competitive pricing and flexible products might emerge.
As we map our finance strategies for clients, we keep an eye on lenders with momentum.
In short: the lender landscape is shifting. While some big names remain dominant, others are gaining ground.
Non-bank Lenders making an impact.
Bluestone Home Loans – Continues to lead in the non-bank sector for broker usage and recognition. It’s been named the top non-bank lender in multiple broker-surveys for product strength, service and growth.
Pepper Money – Has built a sizeable book (reporting ~$19.3 billion in assets under management) and strong positioning in the non-prime / broader borrower segment.
Liberty Financial – Recognised alongside Bluestone and Pepper in industry surveys for non-bank lender performance and broker support.
Firstmac – One of Australia’s largest non-bank mortgage originators with a growing penetration and digital-first model.
Brighten – A more emerging player in the non-bank mortgage space, with broker-network growth, RMBS funding deals, and visibility as a non-bank growth contender.
Variable
The rates below are based on a $500,000 loan, with the borrower making principle and interest payments with a loan term of 30 years. The rates quoted may vary depending on the borrowers LVR.
1 Year Fixed
The rates below are based on a $500,000 loan, with the borrower making principle and interest payments with a loan term of 30 years. The rates quoted may vary depending on the borrowers LVR. At the end of the three year fixed period, the borrowers interest rate will revert to a standard variable rate for the life of the loan.
