The increases were seen across fixed and 'Wealth Package' home loans, paying principal & interest (P&I), and interest only (IO). Details are:
- Residential Fixed 3 Years P&I: 5 basis point rise to 2.34% p.a. (4.12% p.a. comparison rate*)
- Residential Fixed 4 Years P&I: 5 basis point rise to 2.39% p.a. (3.97% p.a. comparison rate*)
- Residential Fixed 3 Years IO: 10 basis point rise to 3.64% p.a. (4.45% p.a. comparison rate*)
- Residential Fixed 5 Years IO: 10 basis point rise to 4.04% p.a. (4.48% p.a. comparison rate*)
- Wealth Package 3 Years IO: 10 basis point rise to 3.49% p.a. (4.15% p.a. comparison rate*)
- Wealth Package 5 Years IO: 10 basis point rise to 3.89% p.a. (4.24% p.a. comparison rate*)
- Wealth Package 3 Years P&I: 5 basis point rise to 2.19% p.a. (3.85% p.a. comparison rate*)
- Wealth Package 4 Years P&I: 5 basis point rise to 2.24% p.a. (3.74% p.a. comparison rate*)
The four-year packaged loan was previously one of the first of the big four banks' home loans to be cut below the 2% threshold after November 2020's Reserve Bank rate cut.
MyState Bank decreases variable rates
MyState Bank has decreased variable interest rates on some owner occupier home loans by 10 basis points. The cuts were mainly for borrowers with larger deposits, between 60 and 80% LVR.
- Basic Variable 80%: Down to 2.49% p.a. (2.52% p.a. comparison rate*)
- Basic Variable 70%: Down to 2.44% p.a. (2.47% p.a. comparison rate*)
- Basic Variable 60%: Down to 2.39% p.a. (2.42% p.a. comparison rate*)
Note that the latter two appear to be 'Special Offers', meaning the offer could be withdrawn any time, or that borrowers may need to sign up by a certain date.
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 | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Additional Repayments | Split Loan Option | Tags | Features | Link | Compare | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.69% p.a. | 6.16% p.a. | $2,319 | Principal & Interest | Fixed | $0 | $530 | 90% | Featured |
| Disclosure | |||||||||
5.99% p.a. | 5.90% p.a. | $2,396 | Principal & Interest | Variable | $0 | $0 | 80% | Featured Apply in minutes |
| Disclosure | |||||||||
6.09% p.a. | 6.11% p.a. | $2,421 | Principal & Interest | Variable | $0 | $250 | 60% | Featured |
| Disclosure |
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