The 124 basis point cut belonged to the variable investment Low Rate Essentials home loan for LVRs over 85%.

The rate is now down to 3.60% p.a. (3.62% p.a. comparison rate*)

Borrowers with LVRs up to 85% also saw the same home loan cut by 104 basis points, now down to 3.40% p.a. (3.42% p.a. comparison rate*).

Owner-occupiers also saw some big cuts, with the variable Low Rate Essentials product with a maximum 90% LVR seeing a 95 basis point haircut - now down to 3.15% p.a. (3.18% p.a. comparison rate*).

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 investors.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.19% p.a.
6.58% p.a.
Principal & Interest
Featured 90% LVR
  • You MUST already have Solar or a documented plan to install within 90 days to be eligible for this loan
  • Available for refinance or purchase
  • No monthly, annual or ongoing fees
6.29% p.a.
6.20% p.a.
Principal & Interest
Featured Apply In Minutes
  • A low-rate variable investment home loan from a 100% online lender. Backed by the Commonwealth Bank.
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Elsewhere, it was a subdued week for rate changes, with Australian Unity the only other lender of note to cut in the past seven days.

Some home loans to see changes were:

  • Health Wealth Happiness Fixed P&I 1 Year: 15 basis point cut to 2.59% p.a. (2.91% p.a. comparison rate*)
  • Health Wealth Happiness Fixed P&I 3 Years: 15 basis point cut to 2.59% p.a. (2.86% p.a. comparison rate*)
  • Kick Starter Discount Variable P&I: 15 basis point cut to 2.59% p.a. (2.62% p.a. comparison rate*) 

Various other packaged and non-packaged loans for both owner-occupiers and investors were cut by between 10 and 15 basis points. 

Note that 'discounts' and 'special offers' could expire at any time.

New 'lowest ever' home loan

At the start of the week, Reduce Home Loans also introduced its 'lowest ever' home loan.

Called the 'Rate Cutter', it's a variable product for owner-occupiers, primarily aimed at those with either a big deposit or those who are refinancing and have built up some equity, as it has a maximum LVR of 60%.

The rate is 1.89% p.a. (1.92% p.a. comparison rate*).

Reduce also has another sub-2% advertised rate home loan for borrowers with a smaller deposit.

Overall, in's market research, there are ten lenders offering sub-2% home loans.

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