For Gateway Bank, its residential fixed loans for two and three years were cut by 129 basis points, while some investment loans also got a sizeable haircut. Some further details are:

  • Residential Fixed 3 Years: 129 basis point cut to 2.59% p.a. (4.05% p.a. comparison rate*)
  • Investment Fixed 3 Years: 115 basis point cut to 2.99% p.a. (4.66% p.a. comparison rate*)

A range of packaged home loans were also cut, and Gateway Bank also cut a raft of variable loans just three weeks ago.

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.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Extra Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
5.94% p.a.
5.98% p.a.
$2,978
Principal & Interest
Variable
$0
$530
90%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 10% Min Deposit
  • Redraw
  • Extra Repayments
  • More details
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Dedicated loan specialist throughout the loan application.
 Disclosure
5.89% p.a.
5.80% p.a.
$2,962
Principal & Interest
Variable
$0
$0
80%
  • Built and funded by CommBank
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 20% Min Deposit
  • Redraw
  • More details
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
 Disclosure
5.99% p.a.
6.02% p.a.
$2,995
Principal & Interest
Fixed
$0
$0
60%
  • Owner Occupier
  • Fixed 3 Years
  • Principal & Interest
  • 40% Min Deposit
  • Redraw
  • More details
  • Competitive rates to help you save
  • A Dedicated Relationship Manager
  • Certainty of repayments with a fixed rate term
 Disclosure
5.93% p.a.
5.93% p.a.
$2,975
Principal & Interest
Variable
$0
$395
70%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 30% Min Deposit
  • Redraw
  • More details
 Disclosure
More home loans
Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning
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Meanwhile, CUA also made some changes but for variable home loans, in both the owner-occupier and investment spaces. Some key details are:

  • Achieve Variable OO P&I 250k+: 25 basis point cut to 2.55% p.a. (2.60% p.a. comparison rate*)
  • Achieve Variable Inv P&I 250k+: 25 basis point cut to 2.86% p.a. (2.91% p.a. comparison rate*)

The 'Achieve' line is a series of basic home loans with a limited offset account attached.

Both of these customer-owned institutions cut rates despite no changes to the Reserve Bank cash rate earlier in the week.

Elsewhere, it was a very subdued week for rate changes, with Macquarie the only other lender of note to make some cuts, albeit only by 10 basis points this morning.

In total, Macquarie applied the cuts to in excess of 40 individual home loans, with some of the highlights including:

  • Basic Variable OO P&I 60% LVR: Down to 2.49% p.a. (2.49% p.a. comparison rate*)
  • Basic Variable OO P&I 70% LVR: Down to 2.54% p.a. (2.54% p.a. comparison rate*)
  • Basic Variable Inv P&I 60% LVR: Down to 2.69% p.a. (2.69% p.a. comparison rate*)

In a note to brokers, Macquarie said it hopes these new rates and "industry-leading" processing times lead to "more opportunities and conversations with your clients".