On Monday ANZ cut a handful of variable mortgage rates as special offers by up to 43 basis points.
ANZ cut six individual 'Simplicity Plus' home loans - four for investors and two for owner occupiers - with a variety of loan to value ratios (LVRs), paying either interest only (IO), or principal & interest (P&I).
A couple of noteworthy changes included:
- Inv P&I 80%: 13 basis point cut to 2.99% p.a. (3.03% p.a. comparison rate*)
- O/O P&I 80%: 23 basis point cut to 2.49% p.a. (2.53% p.a. comparison rate*)
Keep in mind these are special offers, which could be withdrawn at any time.
While other big four banks have increased rates on fixed home loans and cut variable ones recently, ANZ's latest variable rate cut appears to be without compromise.
It comes just days after CBA and Westpac increased fixed mortgage rates again - only weeks after their last increases.
On Monday, Hume Bank and Citi also increased fixed home loan rates - the former by between 5 and 10 basis points, and the latter by between 20 and 35 basis points.
Other banks to hike fixed interest rates recently include NAB, and UBank, Bank of Queensland and People's Choice.
On Tuesday the Reserve Bank held the cash rate at 0.10% for the thirteenth consecutive month, but signalled it could raise the cash rate earlier than its 2024 guidance.
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Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.
Lender | 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%)
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Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
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| Variable | More details | ||||||||||||
| FEATURED100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES | Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)
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Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)
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| Variable | More details | ||||||||||||
| FEATUREDREFINANCE IN MINUTES, NOT WEEKS | Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)
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Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)
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| Variable | More details | ||||||||||||
| FEATUREDNO UPFRONT OR ONGOING FEES | Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)
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Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)
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- Fast turnaround times, can meet 30-day settlement
- For purchase and refinance, min 20% deposit
- No ongoing or monthly fees, add offset for 0.10%
Rates correct as of November 27, 2021. View disclaimer.
Photo by Michal B on Unsplash
