Which banks moved home loan rates in the week of 1 September?

Headline movers and shakers NAB, Macquarie, and Suncorp adjusted rates available to new home loan borrowers by as much as 20 basis points this week.

Meanwhile, some of their smaller counterparts put forward changes as large as 30 basis points.

It comes as the market prepares for the next Reserve Bank of Australia (RBA) board meeting, going ahead on Tuesday. The board has held the cash rate steady at 4.1% for two consecutive months and many will be watching closely to see if it continues its streak.

Importantly, the following home loan rate changes are available to new customers and some are special offers. Existing customers might face different rate changes, or none at all.

NAB ups variable interest rate by 15 basis points

NAB has increased the base variable rate of its discount offer for new borrowers signing onto an owner occupier principal and interest (P&I) home loan with a loan-to-value ratio (LVR) of under 80%.

Take a look:

• Base Variable Rate P&I Special Offer ≤80% LVR: 15 basis point increase to 6.49% per annum (p.a.)(6.53% p.a. comparison rate*)

Macquarie Bank boosts fixed interest rates by 20 basis point

Joining NAB in increasing home loan interest rates is Macquarie Bank.

The investment banking major, which also has its toes in the consumer banking segment, has upped rates on many of its fixed interest products.

Owner occupiers might be interested by these changes:

• Offset Fixed Owner Occupied P&I 5 years ≤70% LVR: 20 basis points increase to 6.05% p.a. (6.21% p.a. comparison rate*)
• Offset Fixed Owner Occupied P&I 3 years 70%-80% LVR: 14 basis points increase to 6.19% p.a. (6.27% p.a. comparison rate*)
• Basic Fixed Owner Occupied P&I 4 years 70%-80% LVR: 20 basis point increase to 6.15% (6.05% comparison rate*)
• Basic Fixed Owner Occupied P&I 5 years 80%-95% LVR: 20 basis point increase to 6.39% p.a. (6.78% p.a. comparison rate*)

Investors, on the other hand, might find their attention drawn to:

• Basic Fixed Investment P&I 3 years ≤70% LVR: 16 basis point increase to 6.25% p.a. (6.16% p.a. comparison rate*)
• Basic Fixed Investment P&I 4 years 80%-90% LVR: 14 basis point increase to 6.49% p.a. (6.99% p.a. comparison rate*)
• Offset Fixed Investment P&I 3 years 70%-80% LVR: 16 basis point increase to 6.35% p.a. (6.48% p.a. comparison rate*)
• Offset Fixed Investment P&I 5 years 80%-90% LVR: 14 basis point increase to 6.49% p.a. (7.15% p.a. comparison rate*)

Suncorp Bank drops variable interest rates by as much as 10 basis points

While NAB and Macquarie were bolstering interest rates, the sunshine state’s Suncorp has slashed some of its variable home loan rates as part of a special offer.

Here are the changes it made for owner occupiers and investors this week:

• Back to Basics Better Together Owner Occupier P&I 70%-80% LVR: 4 basis point decrease to 5.84% p.a. (5.85% p.a. comparison rate*)
• Home Package Plus Owner Occupier P&I 70%-80% LVR: 5 basis point decrease to 5.95% p.a. (6.31% p.a. comparison rate*)
• Investment Home Package Plus P&I 70%-80% LVR: 10 basis point decrease to 6.19% p.a. (6.54% p.a. comparison rate*)
• Investment Back to Basics P&I 70%-80% LVR: 10 basis point decrease to 6.09% p.a. (6.10% p.a. comparison rate*)

Smaller banks shake things up by as much as 30 basis points

MOVE Bank shakes up interest rates by up to 30 basis points

Member-owned MOVE Bank joined in on the rate shifting action this week.

It dropped some of its valuable rate home loan offerings by as much as 30 basis points, while increasing some of its fixed rate products.

Here are some of the highlights for those seeking a variable rate home loan:

• Straightforward Plus P&I 90-95% LVR $500k: 30 basis point decrease to 6.44% p.a. (6.49% p.a. comparison rate*)
• Straightforward Plus P&I 90-95% LVR $150-500k: 30 basis point decrease to 6.54% p.a. (6.59% p.a. comparison rate*)
• Straightforward Plus Investment P&I ≤80% LVR $500k+: 10 basis point increase to 6.14% p.a. (6.19% p.a. comparison rate*)
• Straightforward Plus Investment P&I 80%-90% LVR $500k+: 5 basis point increase to 6.69% p.a. (6.74% p.a. comparison rate*)

While changes to MOVE Bank’s fixed rate offerings included:

• Complete Package Fixed P&I 2 years ≤95% LVR: 20 basis point increase to 6.24% p.a. (6.99% p.a. comparison rate*)
• Complete Package Fixed P&I 5 years ≤95% LVR: 20 basis point increase to 6.64% p.a. (7.05% p.a. comparison rate*)
• Complete Package Fixed Investment P&I 1 year ≤90% LVR: 20 basis point increase to 6.24% p.a. (7.56% p.a. comparison rate*)
• Complete Package Fixed Investment 3 years ≤90% LVR: 20 basis point increase to 6.44% p.a. (7.41% p.a. comparison rate*)

MyState Bank drops fixed interest rates by up to 20 basis points

Finally, MyState dropped rates on many of its fixed interest home loan products this week.

Highlights include:

• Residential Fixed IO 2 years ≤80% LVR: 20 basis point decrease to 6.99% p.a. (7.99% p.a. comparison rate*)
• Residential Fixed IO 3 years ≤80% LVR: 10 basis point decrease to 7.39% p.a. (8% p.a. comparison rate*)
• Residential Fixed P&I 2 years 70-80% LVR: 20 basis point decrease to 6.19% p.a. (7.82% p.a. comparison rate*)
• Residential Fixed P&I 2 years 80-90% LVR: 20 basis point decrease to 6.79% p.a. (7.94% p.a. comparison rate*)

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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.

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Lender	Home Loan	Interest 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	Tags	Features	Link	Compare	Promoted Product	Disclosure
loans.com.au	loans.com.au Bare Home Loan (Basic OO P&I <90%)	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.	Go to site	Compare	Promoted	Disclosure
Unloan	Unloan Variable Rate Home Loan LVR < 80%	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.	Go to site	Compare	Promoted	Disclosure
Regional Australia Bank	Regional Australia Bank Home Loan Fixed (Owner Occupier, Principal and Interest, max lvr 60%) (3 years)	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	Go to site	Compare	Promoted	Disclosure
Homestar	Homestar Star Nova LVR <70% (Owner Occupied, Principal and Interest)	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		Go to site	Compare		Disclosure
Reduce Home Loans	Reduce Home Loans EconoME Home Loan (Owner Occupier, Principal & Interest, LVR 60%)	5.99% p.a.	6.01% p.a.	$2,995	Principal & Interest	Variable			$0	$150	60%				$3000 Cashback T&Cs apply Owner Occupier Variable Principal & Interest 40% Min Deposit Redraw More details		Go to site	Compare		Disclosure

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