ANZ has joined its rivals in hiking standard variable interest rates, lifting rates for home owners by 0.18 percentage points to 5.56 per cent.
Earlier on Friday NAB announced a 0.17 percentage point raise to 5.6 percent to take effect from November 12.
The move comes on the heels of the Commonwealth Bank's announcement on Thursday to push up its rate 0.15 percent to 5.6 per cent, and Westpac's 0.2 per cent lift to 5.68 percent last week.
The lifts put pressure on the last remaining major lender ANZ, to take similar action.
A majority of the big four have raised their rates now since Westpac triggered this latest spate of hikes on October 14.
NAB followed the other banks in blaming the increase on tougher market conditions and regulations.
All of the banks have undertaken billion dollar capital raisings in the past few months to build capital to absorb possible losses and to secure their business.
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NAB raised $5.5 billion in May.
"There are a range of factors that come into consideration in interest rate decisions. The home loan market is dynamic, with multiple changes being seen across the industry," NAB group executive for personal banking Gavin Slater said.
"Today's decision has not been easy, but we believe this is right decision for the long term."
NAB's move fuels further speculation of a Melbourne Cup Day rate cut by the Reserve Bank next month.
Like the other banks, NAB has cited market conditions and requirements to increase capital for the increase, which will come into effect on November 12.
The changes mean owner occupiers with a $300,000 loan will fork out an extra $27 a month in repayments.
CBA's variable rates on home loans for investors will also jump 0.15 percentage points to 5.87 per cent, its second rate increase for investors in three months.
The hikes are being made to help cover the cost of new requirements for the banks to hold more capital to absorb possible losses and make their businesses more secure.
"We recently raised $5.1 billion to strengthen our capital position in line with new regulatory requirements implemented in response to the Financial System Inquiry," CBA group executive for retail banking services Matt Comyn said.
"We have now reviewed our home loan pricing in light of these changes."
Opposition Leader Bill Shorten described the rate increases as "nothing but a rip-off".
"Westpac and Commonwealth Bank customers have every right to be angry at their banks," Mr Shorten said in a statement.
The ANZ bank is yet to announce whether it will move on rates.
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