Courtesy of the RBA money price movement yesterday, house borrowers are in for some price relief. Not so great for self-funded retirees, of course…
So will your residence loan rate be affected? Probabilities are yes: it would be a brave monetary institution that didn’t act of a reduce in official money rate.
When faced with a (welcome) reduction in mortgage rate although, it helps to know just exactly where your financial institution stands in comparison to the other people. So as at appropriate now, right here is what present interest rates are across our larger institutions:
| Institution | Regular variable | 1 year fixed | 3 year fixed | 5 year fixed |
| ANZ | 5.88% | 4.94% | 5.09% | 5.14% |
| COM | 5.90% | 4.94% | 5.09% | 5.14% |
| NAB | 5.88% | 4.89% | 5.04% | 5.09% |
| WPAC | 5.98% | 4.99% | 5.14% | 5.19% |
| SUNCORP | 5.99% | 4.93% | 4.98% | 5.14% |
| BOQ | 6.01% | 4.65% | 4.79% | 5.09% |
| Bank Melbourne | 5.90% | 4.94% | 4.94% | 5.14% |
| ING DIRECT | 5.22% | 4.69% | 4.69% | 4.99% |
| Bankwest | 5.89% | 4.98% | 4.84% | 5.14% |
| Loans.com.au | 4.52% | 4.64% | 4.48% | N/A |
| St George | 5.99% | 4.94% | 4.94% | 5.14% |
| IMB | 5.66% | 4.49% | 4.59% | 4.89% |
Source: Canstar.com.au
With the exception of loans.com.au, IMB, Suncorp, ANZ and NAB, all the above institutions have announced that they will be following the official cash price down at some point in between the 20th and 24th Feb. Stay tuned for more…
So who’s cutting home loan rates?
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