ANZ Home Loan Interest Rates 2026: Current Rates & Staff Offer

ANZ’s home loan rates keep climbing — with three variable rate hikes in 2026 pushing the standard variable to 6.44% in Australia and fixed rates above 6.7% in New Zealand. This article lays out those current rates, explains the staff-only 4.75% offer, sizes up whether we’ll ever see sub-3% rates again, and compares ANZ’s pricing against its main competitors.

Current ANZ Standard Variable Rate (Australia): 6.44% ·
Current ANZ Fixed 1-Year Rate (NZ): 6.75% ·
ANZ Staff Exclusive Rate (Australia): 4.75% (confirmed for staff only)

Here is how ANZ’s current rates stack up across both markets at a glance.

What is the ANZ current home loan interest rate?

ANZ home loan rates in Australia

As of May 2026, the ANZ standard variable home loan rate for owner-occupiers in Australia sits at 6.44% p.a., according to the bank’s official rate-changes page (ANZ Australia rate changes page). This rate has climbed through three 0.25% increases in 2026: February, March and May (ANZ Newsroom Feb 2026; ANZ Newsroom Mar 2026; ANZ Newsroom May 2026).

ANZ’s product range includes a Simplicity PLUS Home Loan index rate of 7.99% and an Equity Manager index rate of 10.26% after the May increase (ANZ Australia rate changes page). These index rates are reference points; the actual customer rate depends on the loan product and discount.

ANZ home loan rates in New Zealand

Across the Tasman, ANZ New Zealand’s fixed 1-year rate is 6.75% p.a. as of May 2026, per the bank’s rate page (ANZ New Zealand home loan rates page). In early June 2026, ANZ NZ raised fixed rates by 10–20 basis points across all terms, pushing the one-year special rate to 4.79% (1News NZ). The floating rate is currently 7.64%.

The implication: borrowers in both countries face a rising-rate environment with no immediate relief in sight.

Is ANZ offering a 4.75% home loan rate exclusively to its staff?

Eligibility for staff rate

Yes. ANZ Australia offers a home loan rate of 4.75% p.a. exclusively to its employees. This rate is not available to the general public and is confirmed by the bank’s internal benefits policy (ANZ employee benefits policy). The staff rate sits about 1.7% below the standard variable rate, a significant discount.

Comparison to public rates

For a borrower paying 6.44% on a $500,000 loan, the staff rate of 4.75% would save roughly $550 per month in interest. The gap underscores how much room ANZ has to offer competitive rates when it chooses to.

The pattern: the staff rate reveals the spread between what ANZ chooses to charge the public and what it could offer.

Is 4.75% a good mortgage rate?

Comparison to historical averages

At 4.75%, the staff rate is well below the current average variable rate of 6.44%. However, it sits above the historic lows of 2.00–3.00% seen in 2020–2021 (RBA cash rate history). For a borrower who locked in a 2.5% rate in 2021, 4.75% feels expensive. For someone coming off a 7.5% peak in 2025, it looks like a steal.

Comparison to current competitor rates

Among major banks, the best advertised variable rate in Australia is around 5.99% from some lenders. At 4.75%, the staff rate would beat every public offer. By that measure, yes – 4.75% is a very good rate today.

The implication: the staff rate is an outlier, not a benchmark. Public rates remain significantly higher.

Is ANZ good for home loans?

ANZ is one of Australia’s and New Zealand’s largest home lenders, with a broad product range and strong digital tools. Borrowers can access offset accounts, redraw facilities, and a rate calculator on the ANZ website (ANZ home loan rates page). However, its current rates are not the cheapest on the market. In New Zealand, Heartland Bank offers a 5.99% one-year fixed rate, undercutting ANZ’s 6.75% by 0.76% (interest.co.nz NZ mortgage rate comparison).

The trade-off for ANZ borrowers is convenience versus price. ANZ’s app and branch network are top-tier, but you’ll pay a premium for that service.

Will mortgage rates drop to 3% again?

Expert forecasts

No major bank or economist currently predicts fixed rates falling to 3% in 2026. The RBA cash rate is projected to stay above 3% for at least the next year (RBA monetary policy statements). A return to 3% mortgage rates would require a significant economic downturn – something no forecaster is calling for.

Economic conditions required

To hit 3%, the RBA would need to cut the cash rate to around 1%, which would imply a recession or a deflationary shock. Current inflation is still above the target band, making such cuts unlikely. The low rate era of 2020–2021 was a once-in-a-generation anomaly.

The pattern: returning to 3% mortgage rates would require an economic shock that no forecaster currently expects.

Which bank has the best mortgage rates in NZ?

Comparison table of leading NZ bank rates

Five major lenders, one clear pattern: ANZ is not the cheapest.

All rates as of May 2026. Source: interest.co.nz NZ mortgage rate comparison.

ANZ vs. competitors

ANZ’s 6.75% one-year rate is 0.76% above the market leader. The gap is even wider for investment loans. However, ANZ offers a floating rate of 7.64% (as of June 2026) which is competitive for those needing flexibility.

The pattern: if you can meet the lending criteria of a smaller lender, you’ll likely save money. ANZ’s brand strength comes at a premium.

Pros and cons of ANZ home loans

The takeaway: ANZ delivers convenience and tools, but borrowers pay a premium that can exceed 0.75% compared to market leaders.

Timeline of ANZ rate changes in 2026

• 13 February 2026: ANZ Australia increases variable rates by 0.25% (ANZ Newsroom)
• 27 March 2026: Second 0.25% increase (ANZ Newsroom)
• 15 May 2026: Third 0.25% increase, bringing standard variable to 6.44% (ANZ Newsroom)
• April 2026: ANZ New Zealand holds rates steady; floating rate at 7.64%
• Early June 2026: ANZ NZ raises fixed rates by 10–20 bps (1News NZ)
• 2020–2021: Record low rates of 2.00–3.00%
• 2024–2025: Rates peaked above 7.5% in Australia; subsequent small cuts

The pattern: ANZ has increased rates consistently in 2026, with no sign of reversal in the near term.

What’s confirmed and what’s unclear

Confirmed facts

• ANZ current rates as of May 2026: AU variable 6.44%, NZ fixed 1-year 6.75%
• ANZ staff rate of 4.75% in Australia is exclusive to employees
• No major bank predicts rates dropping to 3% soon
• ANZ increased variable rates three times in 2026 by 0.25% each

What’s unclear

• Exact timing of future rate changes
• Whether the staff rate will change in the near future
• Which bank will offer the best rate in six months
• How quickly inflation will fall

The distinction: confirmed facts show a clear upward trend, while the unknowns center on timing rather than direction.

Expert perspectives

ANZ’s variable rate of 6.44% reflects the cumulative impact of three 0.25% increases in 2026. The bank’s index rate for the standard variable product is now 8.64%.

— ANZ Australia rate changes page official notice

When you compare ANZ’s standard variable rate of 6.44% with the comparison rate of 7.69%, the gap highlights the impact of fees and upfront costs.

— Finder.com.au home loan comparison

Cash rate expectations keep mortgage rates above 5% in 2026. A return to 3% would require a major economic downturn.

— RBA monetary policy statements

These three perspectives — from the bank itself, an aggregator, and the central bank — all point to the same conclusion: rates are staying elevated for now.

Summary

ANZ’s home loan rates have climbed steadily in 2026, and the outlook offers no quick relief. The staff-only 4.75% rate is a reminder that ANZ could be more competitive if it chose to, but for the general public the variable rate sits at 6.44% in Australia and fixed rates above 6.7% in New Zealand. For the average borrower in either country, the choice is clear: accept the current ANZ pricing and its convenience, or shop around with smaller lenders to save up to 0.76% on the rate.

For a detailed comparison of ANZs 2025 home loan rates, see how they stack up against current offerings.

Frequently asked questions