Photo by Jamie Haughton on Unsplash
The Reserve Bank of Australia (RBA) has cut the cash rate to 0.10% in its board meeting today just hours before the Federal Budget is released.
The move has come as a bit of a surprise, but wasn't completely unexpected.
Westpac and NAB had been forecasting an October rate cut, before Westpac backflipped and revised its forecast of a rate cut for November to give the Federal Government time to sell its Budget.
A Bloomberg poll also revealed only 4 out of 24 economists surveyed thought there would be a rate change in October.
But that hasn't stopped the RBA from pulling the trigger and cutting the official cash rate to 0.10% in its board meeting today, just hours ahead of tonights Federal Budget at 7:30pm (AEDT).
Looking to compare low-rate, variable home loans? Below are a handful of low-rate loans in the market.
Rates correct as of January 25, 2022. View disclaimer.
Advertised rate Comparison rate* Monthly repayment Rate Type Offset Redraw Ongoing Fee Upfront Fees LVR Lump Sum Repayment Additional Repayments Pre-approval 
Variable More details FEATUREDLIMITED TIME OFFER Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
Variable More details FEATUREDZERO APPLICATION FEESFEE FREE OFFSET Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)
Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)
Fixed More details FEATUREDUSE A MARKET LEADING APP TO HELP YOU PAY OFF YOUR LOAN SOONER Fixed Home Loan 1 year (Principal and Interest) (LVR < 80%)
Fixed Home Loan 1 year (Principal and Interest) (LVR < 80%)
Variable More details FEATUREDREFINANCE IN MINUTES, NOT WEEKS Variable Owner Occupied, Principal and Interest (Refinance Only)(LVR <75%)
Variable Owner Occupied, Principal and Interest (Refinance Only)(LVR <75%)
More to come...
Disclaimers
The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.
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