<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Two of the big four banks have moved to increase fixed rates in yet another signal Australia could be hit by a second </span><a href="https://www.9news.com.au/interest-rates" rel="" target="" title="cash rate hike"><span>cash rate hike</span></a><span> in the coming months.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/westpac" rel="" target="_blank" title="Westpac"><span>Westpac</span></a><span> and </span><a href="https://www.9news.com.au/commonwealth-bank" rel="" target="_blank" title="Commonwealth Bank"><span>Commonwealth Bank</span></a><span> both raised fixed rates by 0.30 and 0.25 percentage points respectively, following the RBA's unanimous decision to raise the cash rate to 3.85 per cent at its first meeting of the year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The decision came before </span><a href="https://www.9news.com.au/finance/inflation-australia-january-2026-cpi-interest-rates-implications/6b382a95-929e-4fda-9d88-1df3ed7cc0b0" rel="" target="" title="yesterday's higher-than-expected inflation data"><span>yesterday's higher-than-expected inflation data</span></a><span>, which only increased the chance of an interest rate hike by May.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/hostage-kidnapping-victim-recovered-dural-nsw-police/c27cbcf5-749d-453b-afae-e4de3aa1d577" target="_blank"><strong><span>Alleged kidnapping victim recovered from Sydney property in covert operation</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It marks the second time CBA has hiked fixed rates in just six weeks.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The latest increase brings all of the bank's fixed rate options above six per cent.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>However, Westpac's one, two and three-year fixed rate home loans still begin with a five.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/cba-and-westpac-hike-fixed-rates-after-rba-decision/b8f60f10-e715-4e88-b024-f55cfcf3584a" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Fellow big four bank NAB now officially has the lowest fixed rates on offer, according to Canstar.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Fixed rates are growing across the board.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Canstar reports that around 60 lenders have hiked at least one fixed rate since the RBA's decision to raise the official cash rate on February 3.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>And fixed rates below five per cent have effectively disappeared from the loan market as a result.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The lowest possible fixed rate now sits at 5.18 per cent for a two-year term, offered by BankVic.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Westpac and CBA's decision casts a shadow across any chance of a rate decrease next month.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/national/anthony-albanese-apologises-to-grace-tame-over-difficult-label/baf7dee7-5455-4b2a-80f6-d452e7c0d288" rel="" target="_blank" title="PM apologises to Grace Tame if 'difficult' label was 'misinterpreted'"><strong><span>PM apologises to Grace Tame if 'difficult' label was 'misinterpreted'</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/australias-best-beaches-named-tourism-australia/0d2386fa-e849-4e51-b1ec-d71df357d2bb" target="_blank"><strong><span>Australia's best beaches revealed by peak tourism body</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The RBA will meet again in March and in May before the government hands down its 2026 federal budget.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"This latest round of fixed rate increases from Australia's two biggest banks are in response to elevated fixed rate funding costs, but also an expectation this is not the end of the cash rate hikes," Canstar data insights director Sally Tindall said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/one-in-six-households-struggling-to-pay-power-bills-as-rebates-vanish/8c2c6526-9c64-4cdc-92b3-340ea39478a6" target="_blank"><strong><span>One in six households struggling to pay power bills as rebates vanish</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Competition in the fixed rate space, and the near-anaemic appetite from customers to lock in their home loan rate is also likely to have played a role."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Tindall said she expects the trend of climbing fixed rates to continue if the cash rate hikes persist in 2026.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><strong><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><strong><em><span>Download the 9NEWS App here via</span></em></strong><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" 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