Weekly Market Brief #2 — Three of the big four now predict a hike

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Weekly Market Brief

The week in rates, lenders and lending policy — translated into plain English for home owners, buyers and investors — wherever you are in Australia.

EDITION 02 · WEEK ENDING SUNDAY 6 SEPTEMBER 2026

The numbers that matter

Your one-glance snapshot as at Monday 7 September 2026.

RBA cash rate
4.35%
Held 11 Aug · next call Tue 29 Sep
Big four on next move
3 of 4
NAB/ANZ/CommBank flip to hikes — Westpac lone holdout
Lenders under 6%
52
Variable rates, new-customer offers
Sharpest variable
5.69%
Best of market · big-four low 5.99% (Westpac)

This week in 60 seconds

Four things that happened, and why they touch your mortgage.

  • Three of the big four flipped to predicting a hike. NAB tips the next move is up in September; ANZ and CommBank say November. Only Westpac still expects cuts — a striking turnaround in a few weeks.
  • Inflation’s headline and its core are telling different stories. July CPI landed at 3.5% (released 26 August), but the trimmed mean the RBA watches is stuck at 3.6% — too high for comfort.
  • Lender competition hasn’t cooled. 52 lenders now advertise variable rates under 6%, 35 cut new-customer rates since 1 June, and the big-four’s best advertised variable sits at 5.99% (Westpac).
  • Refinance cashbacks are back. Offers reach around $4,000 (IMB), with several $2,000–$2,500 deals expiring 30 September — check end dates before you switch.

What it means for you

Where you sit decides what this week’s news means for your hip pocket.

🏦 On a variable rate

If there’s a 0.25% hike on 29 September, that’s roughly $82 a month more per $500k borrowed. The gap between the 5.69% market low and the average rate is even bigger than the hike — worth knowing your number.

⏳ Fixed rate expiring

With three big banks predicting hikes, the banks’ own behaviour says rates may not fall for a long while. Reverting onto a standard variable without checking the market could lock in the “staying” premium.

🔄 Thinking of refinancing

Cashbacks up to ~$4,000 are live, but several $2,000–$2,500 offers expire 30 September. Lenders are still fighting for new customers — use it, and price the loan on its rate, not just the sweetener.

Smart moves this week

Four things worth doing before the 29 September call.

  1. Find your current rate — on your statement or app. Above the market average, you’re paying the “staying” premium.
  2. Compare against the 5.69% market low and the big-four’s 5.99% — that’s the competition you can ask your bank to match.
  3. Ring your lender and ask to be priced like a new customer. It costs nothing to ask; lenders would rather keep you at a sharper rate than lose you.
  4. If a cashback is part of your refinance maths, check the expiry — several offers end 30 September.

Where rates could head next

The big four no longer agree — the direction is up.

NAB
Hike — September 2026

Expects the RBA’s next move to be a 25bp rise on 29 September.

ANZ & CommBank
Hike — November 2026

Both flipped to predicting a November hike this week.

Westpac
Cuts — the lone holdout

Still forecasting cuts, though even its own economics team is out on a limb now.

The market
Next call: 29 Sep

Three weeks of hawkish RBA chatter reshaped expectations; watch fixed rates reprice ahead of the meeting.

Translation: the conversation has flipped from “when do cuts come” to “when does the next hike land”. That changes the calculus for fixing, refinancing and budgeting.

Wondering what your rate should be?

REMC Finance is an AFG award-winning broker comparing 40+ lenders for borrowers Australia-wide. Contact me by phone, text or email, or submit an enquiry form — for a free, no-obligation rate health check. Or I can come to you — by phone, video or in person.

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