The Reserve Bank's (RBA) cash rate decision next Tuesday is widely tipped to be a slight cut from 25 basis points down to 10 basis points.
Throughout the past week, a few challenger brands have slashed home loan interest rates.
Gateway Bank cut its Construction Loan by 125 basis points down to 3.23% p.a. (3.29% p.a. comparison rate*).
Australian Unity cut numerous home loans, but most noteworthy was its 'Health Wealth Happiness' package home loan, fixed for one year paying P&I, cut by 20 basis points down to 2.24% p.a. (3.13% p.a. comparison rate*).
People's Choice Credit Union cut its residential 1 year fixed loan paying P&I, among others, by 25 basis points down to 2.29% p.a. (4.44% p.a. comparison rate*).
More rate cuts are below.
Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner occupiers.
Lender | |||||||||||||
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Variable | More details | ||||||||||||
FEATUREDOnline ExclusiveUp To $4K Cashback Includes NOV RBA Rate Increase | loans.com.au – Variable Basic Cashback Home Loan (Principal and Interest) (LVR < 70%)
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loans.com.au – Variable Basic Cashback Home Loan (Principal and Interest) (LVR < 70%)
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Variable | More details | ||||||||||||
FEATUREDRefinance OnlyApply In Minutes | Unloan – Variable Rate Home Loan – Refinance Only
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Unloan – Variable Rate Home Loan – Refinance Only
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Variable | More details | ||||||||||||
FEATURED | Up – Up Home Variable (Principal & Interest) (LVR ≤ 90)
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Up – Up Home Variable (Principal & Interest) (LVR ≤ 90)
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- Immediate cashback upon settlement
- $2000 for loans up to $700,000
- $4000 for loans over $700,000
ME Bank also cut a couple of home loan rates, including its variable 'Flexible Member Package' home loan for owner occupiers paying P&I with a maximum LVR of 80%.
For those borrowing $700,000 or more, the rate was cut by 10 basis points down to 2.69% p.a. (3.14% p.a. comparison rate*).
QBANK cut its 'Classic Offer' with a maximum LVR of 80% by 5 basis points down to 2.69% p.a. (2.72% p.a. comparison rate*)
Earlier in the week, Westpac-owned St. George and Bank of Melbourne also slashed some home loan rates.
Focusing on St. George, the biggest cuts came to interest-only loans.
For example, its Basic Variable loan with a maximum LVR of 60% paying IO, was cut by 85 basis points down to 3.09% p.a. (3.11% p.a. comparison rate*)
The corresponding home loan but paying P&I was cut by 10 basis points down to 2.49% p.a. (2.51% p.a. comparison rate*).
Note these are 'promo' rates and could be withdrawn at any time.

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