ANZ National has revised mortgage rates for the ANZ and National bank but changes would be different for both banks.

ANZ rolled out new 'Simple Variable' rate at 5.69 per cent, applicable for customers with Loan to Value Ratio (LVR) of 80 per cent or less. However, ANZ announced no change in its standard variable rates keeping them intact.

National Bank, on the other hand, may revise its standard variable rates to 5.75 per cent from 6.45 per cent. Bank's rates are still higher than ANZ through 1, 2 and 3 year fixed rate terms.

Flexiplus mortgage rate would be slashed to 5.95 per cent from 6.6 per cent but rates for 1, 2, 3, 4 and 5 year may be hiked between 30-45 basis points. The development is in lines with improving conditions of economic market, prompting lenders to hike their fixed rates for maintaining pace with the wholesale market.

Speculations are also there that the Reserve Bank may hike its official cash rates from early next year.