Macquarie and Teachers Mutual have set dates for the rate rise, but the big four haven't yet. Here's when the 0.25% could hit your home loan

The Reserve Bank lifted the cash rate to 4.85% on Tuesday 3 November. For most borrowers the next question is simple: when does my repayment actually go up? So far two lender groups have given dates. Macquarie Bank's variable home loan rates rise on 19 November, and Teachers Mutual Bank's five brands follow on 12 November. When we published, none of the big four (CBA, Westpac, NAB and ANZ) had announced anything. Here's who has confirmed what, why your rate and your repayment can change on different days, and what to do while you wait.

Who has confirmed a date so far

Macquarie Bank was first. On the day of the decision it said it will increase variable home loan reference rates by 0.25% p.a. effective from 19 November 2026. That's a little over two weeks away, and the bank says the gap is deliberate. "To help our variable home loan customers prepare, we're again waiting more than two weeks before this latest increase takes effect," said Ben Perham, Macquarie's Head of Personal Banking. Macquarie is also lifting the variable rates on its transaction and savings accounts by the full 0.25% from the same date.

Teachers Mutual Bank Limited followed. It will raise its variable home loan and variable savings rates by 0.25% p.a. from 12 November 2026, across all five of its retail brands: Teachers Mutual Bank, Australian Mutual Bank, Firefighters Mutual Bank, Health Professionals Bank and UniBank. Savings products with a monthly bonus interest feature move a little later, on 1 December. The bank says members will start receiving letters about the change from 12 November.

Those two are the only confirmed moves we could verify at the source when we published. The tracker run by Get a Better Rate, which records changes notified through the AFG lender panel, showed one of the 38 lenders it follows (Macquarie) with a November change as at its last update on 3 November. It points out that "not recorded" doesn't mean a lender has decided to hold.

The big four: what we know

When we published, none of the big four had said whether they'll pass the rise on, by how much, or from when.

• ANZ: its rate changes page, dated 3 November, says ANZ "is reviewing its home loan and residential investment loan interest rates accordingly and will provide any update here shortly."
• CBA: its rate announcement page still shows the 30 September notice for the September rise.
• Westpac and NAB: no announcement found. Savings.com.au listed all four banks as "yet to announce", and Nine reported that none of the big four had confirmed whether they would pass on the rise.

September gives a rough guide to what may happen next. After the RBA's September rise, CBA announced on 30 September that its variable home loan rates would go up 0.25% p.a. from Friday 9 October. NAB's change took effect on 8 October, and Westpac's and ANZ's on 9 October. That's about ten days from decision to new rate. There's no guarantee this round will follow the same pattern. Until a bank's own page or release says so, it hasn't passed anything on. Our 1 October article covers how September's round played out.

Your rate and your repayment can change on different days

This catches a lot of people out. The date a lender quotes is usually the day your interest rate changes. Your repayment often changes later.

Teachers Mutual Bank's announcement shows this clearly. The rate moves on 12 November, but repayments change "on or after 10 December 2026". The bank also says your repayment only changes if the new minimum is more than you're already paying. So if you already pay extra, you may not see a difference in your repayment at all, though more of each payment will go to interest.

In between, interest is charged at the new rate. If your repayment stays the same for a few weeks, slightly less of each payment goes to paying down your loan during that time. For most people the effect is small, but it helps to know the two dates aren't the same. Our 8 October explainer goes through how the timing usually works.

The letter or app message from your lender should show both dates: when the new rate starts, and when your new repayment amount kicks in. If it only shows one, ask.

What it could cost you

Canstar estimates this rise adds about $92 a month on a $600,000 owner-occupier loan with 25 years remaining, if it's passed on in full. Across all five rises this year, Canstar puts the total at about $456 a month for the same borrower. Your own figure depends on your balance, rate, remaining term and how often you pay. Our article on the RBA's decision has Canstar's full table for loans from $500,000 to $1 million.

Four things to do this week

• Find your two dates. Watch your banking app and inbox for your lender's notice. Note when the new rate starts and when your repayment changes. If you're with a big four bank, expect an announcement, but don't assume a date until your bank confirms it.
• Check whether your rate is still competitive. After five rises, the gap between what you pay and what a lender offers a new customer can be wide. You can compare current variable rates on our Interest Rates page. Keep in mind that lower property values can push your loan-to-value ratio up, which affects the rates you can get.
• If you already pay extra, consider keeping it that way. If your current repayment is above the new minimum, leaving it where it is means the rise doesn't change what leaves your account, though more of each payment goes to interest.
• Look at your buffer. Money in an offset account reduces the interest you're charged. If your budget is already tight, now is a good time to work out how much breathing room you have before the new repayment lands.

Savers: Macquarie and Teachers Mutual Bank are both lifting variable savings rates by the full 0.25%. If you hold savings somewhere else, check whether your bank does the same when it announces.

If it's getting tight: talk to your lender early, before you miss a repayment. Hardship options exist. The free National Debt Helpline is on 1800 007 007.

Key dates

• Tuesday 3 November: RBA lifts the cash rate to 4.85%. Macquarie and Teachers Mutual Bank announce their changes.
• Thursday 12 November: Teachers Mutual Bank group variable home loan and savings rates rise 0.25% p.a.
• Thursday 19 November: Macquarie variable home loan reference rates rise 0.25% p.a.
• Tuesday 1 December: Teachers Mutual Bank group monthly bonus savings products rise.
• From Thursday 10 December: Teachers Mutual Bank group repayments change, where the new minimum is higher.
• Tuesday 8 December: the RBA's next decision, at 2:00pm Adelaide time.
• Big four: to be announced.

Related reading

• The RBA has lifted rates to 4.85%, the highest in 18 years, and three board members wanted to hold (Tuesday 3 November, afternoon)
• Auction clearance rates just hit their lowest level since April 2020, hours before an expected rate rise (Tuesday 3 November, morning)
• Tuesday's rate rise is almost priced in. The bigger question for your mortgage is whether 4.85% is the peak (Sunday 1 November)
• One rate rise, many start dates: when the 0.25% actually hits your home loan (Thursday 8 October)
• Big four banks pass on the full rate rise from 9 October (Thursday 1 October)

Sources: 1. Reserve Bank of Australia, "Statement by the Monetary Policy Board: Monetary Policy Decision", media release 2026-30, 3 November 2026: cash rate target up 25 basis points to 4.85%; six members voted to increase, three to hold (rba.gov.au/media-releases/2026/mr-26-30.html). 2. Macquarie, "Macquarie Bank's response to the RBA's interest rate decision", 3 November 2026: variable home loan reference rates up 0.25% p.a. effective 19 November 2026; variable transaction and savings account rates up 0.25% from the same date; Ben Perham quote (macquarie.com). 3. Australian Mutual Bank, "Australian Mutual Bank announces increase to variable interest rates November 2026", 3 November 2026: Teachers Mutual Bank Limited's five brands, variable home loan and savings rates up 0.25% p.a. effective 12 November 2026; monthly bonus savings products 1 December 2026; repayments change on or after 10 December 2026 (australianmutual.bank). 4. ANZ, home loan interest rate changes, 3 November 2026 notice (anz.com.au). 5. CommBank, home loan rates announcement, 30 September 2026: variable home loan rates up 0.25% p.a. effective 9 October 2026 (commbank.com.au). 6. Savings.com.au, "Cash rate hits 4.85%: CBA, NAB, Westpac and ANZ responses", 3 November 2026 (savings.com.au). 7. Nine.com.au, banks' responses to the RBA rate rise, 3 November 2026 (nine.com.au). 8. Get a Better Rate, "Which lenders have changed their home loan rates?", last updated 3 November 2026: 1 of 38 lenders recorded in the November round; September round effective dates for NAB (8 October), Westpac and ANZ (9 October) (getabetterrate.com.au). 9. Canstar, "Higher rates, bigger debt: average borrower faces $456 increase in 2026": $92 a month on a $600,000 loan, 25 years remaining; $456 a month across five rises (canstar.com.au). 10. Reserve Bank of Australia, Board meeting schedules 2026 (rba.gov.au).

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