Home Loan Rate Announcements

Has your bank cut home loans rates? Here’s the rundown of which banks have announced that they will be passing on some or all of the RBA official cash rate cut.

standard variable interest rates

We will update the table below as announcements are made, so keep checking. You can compare current home loan rates on our database here.

Lender Rate cut Effective Date
Arab Bank   0.10%  19 August
Australian Military Bank  0.10%  1 September
AMO  0.15%  11 August
Adelaide Bank  0.10%  29 August
AMP 0.10%  22 August
ANZ  0.12%  12 August
Aussie Home Loans  0.10%  23 August
AusWide Bank  0.10%  26 August
BCU  0.19%  1 September
Bank Australia  0.25%  5 August
Bank of Melbourne  0.13%  23 August
Bank of Queensland  0.15%  31 August
Bank of Sydney  0.25%  4 August
BankSA  0.13%  23 August
BankVic  0.15%  22 August
Bankwest  0.10%  23 August
Beyond Bank  0.14%  16 August
Bendigo Bank  0.10%  29 August
Big Sky  0.10%  30 August
The Capricornian  0.10%  15 August
Catalyst Money
Citi  0.15%  23 August
Click Loans
Commonwealth Bank  0.13%  19 August
Coastline Credit Union  0.15%  12 August
Community First Credit Union
CUA  0.12%  18 August
Defence Bank  0.10%  24 August
Delphi Bank
Easy Street
ECU  0.10%  1 September
FCCS  0.10%  1 September
First Option CU  0.11% 8 August (new loans)

1 September (existing loans)

FreedomLend
Firstmac  0.13%  20 August
G&C Mutual  0.10%  5 August
Gateway Credit Union 0.13%  18th August
Greater Bank 0.10% 8 August (new loans)
15 August (existing loans)
Heritage Bank  0.10%  24 August
Holiday Coast Credit Union  0.25%  12 August
Homeloans.com.au 0.15%  12 August
Homestar Finance  0.25%  2 August
Horizon Credit Union
HSBC  0.12%  22 August
Hume Bank  0.10%  15 August
Hunter United Credit Union  0.16% Platinum Loan

0.14% Basic Variable

 1 September
Illawarra Credit Union
IMB  0.10%  24 August
iMortgage  0.10%  8 August
ING DIRECT  0.12% Orange Everyday

0.10% Other Variable

 15 August
inTech Credit Union  0.15%  10 August
Liberty Financial
Loans.com.au  0.13%  20 August
Macquarie Bank  0.15%  8 August
ME  0.10%  23 August
Mortgage House  0.10%  10 August
MOVE
My Credit Union  0.10%  10 August
MyState  0.10%  30th August
NAB  0.10%  19 August
Newcastle Permanent  0.10%  19 August
Northern Beaches CU
Northern Inland Credit Union  0.15%  1 September
Pacific Mortgage Group  0.10% 17 August
P&N Bank  0.10% – 0.26% (selected loans)  26 August
People’s Choice Credit Union  0.13%  19 August
Pepper 0.15%  29 August
Police Bank  0.15%  17 August (new) / 19 September (existing)
QBank  0.15%  19 August
QT Mutual Bank  0.15% (selected loans)  23 August
QUAY Credit Union
Qudos Bank 0.10%  22 August
Queenslanders Credit Union
RAMS  0.10%  23 August
Reduce Home Loans  0.25%  5 August
Regional Bank Australia 0.12% 1 September
RESI  0.39% – 0.40% (selected loans)  8 August
SCU  
Select Encompass  0.25%  1 September
Service One  0.10%  29 August
Southern Cross Credit Union  0.15%  1 September
St.George  0.14%  23 August
State Custodians  0.15%  31 August
Summerland Credit Union
Suncorp Bank 0.10%  24 August
Teacher’s Mutual Bank  0.12%  16 August
The Mac
The Mutual  0.10%  29 August
The Rock  0.10%  30 August
Transport Mutual Credit Union  0.10%  2 September
UBank  0.10%  19 August
UniBank  0.12%  16 August
Victoria Teachers Mutual Bank  Up to 0.20%  22 August
Virgin Money  0.25%  8 August
Westpac  0.14%  23 August
Woolworths Employees Credit Union
Yellow Brick Road

Home Loan Rates

Even though our cash rate is sitting now at just 1.50%, there is still more than 2% difference in the highest variable home loan rate and cheapest variable home loan rate on the CANSTAR database. So even if you bank does cut your home loan rate, make sure you check the other options that are available.

Your mortgage is a big debt and small changes in interest rate can make a big difference to your cost –  make sure you get the best deal for you!

 

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