The biggest cuts seen in the market over the past week were by up to 80 basis points (0.80%).

CommBank has closed out the week by slashing a number of variable home loan rates for owner occupiers and investors across both principal and interest (P&I) and interest-only (IO) loan options.

The decision to cut variable rates by up to 80 basis points comes as ABS lending data for July revealed the value of home loan commitments for new owner-occupiers fell 7.0%, while new investor loan commitments fell 11.2%. 

For owner occupiers, key decreases across CommBank's variable home loan portfolio include:

  • Extra P&I <70%: 10 basis point decrease to 3.69% p.a. (3.70% p.a. comparison rate*)
  • Extra P&I 80-95%: 10 basis point decrease to 4.64% p.a. (4.65% p.a. comparison rate*)

For investors, key decreases include:

  • Investment Extra P&I <70%: 10 basis point decrease to 3.99% p.a. (4.00% p.a. comparison rate*)
  • Investment Extra P&I 80-90%: 80 basis point decrease to 4.49% p.a. (4.50% p.a. comparison rate*)
  • Investment Extra IO 80-90%: 80 basis point decrease to 5.05% p.a. (4.73% p.a. comparison rate*)

NAB cuts variable home loan rates by up to 0.30% p.a.

Cutting variable rates earlier this week, NAB's decrease applies to three 'Base' variable rate home loans with a loan-to-value ratio (LVR) of 80%. 

The major bank's decreases include: 

  • Base Variable Rate P&I Special Offer <80%: 20 basis point decrease to 3.74% p.a.
  • Investment Base Variable Rate P&I Special Offer <80%: 30 basis point decrease to 4.24% p.a.
  • Investment Base Variable Rate IO Special Offer <80%: 5 basis point decrease to 4.69% p.a. 

Around the grounds

Bankwest cuts variable home loan rates by up to 0.20% p.a. 

Following the majors lead, Bankwest has cut variable rates this week by up to 20 basis points.

Changes to Bankwest variable rate home loans apply to those with an LVR of either 70% or 80%. 

Highlights of these changes include:

  • Premium Select Home Loan OO P&I 80%: 10 basis point decrease to 3.69% p.a. (3.71% p.a. comparison rate*)
  • Complete Home Loan Variable Owner Occupied 80% 750k+: 10 basis point decrease to 3.69% p.a. (3.71% p.a. comparison rate*)
  • Premium Select Home Loan Investment P&I 80% $20k+: 20 basis point decrease to 3.99% p.a. (4.01% p.a. comparison rate*)
  • Complete Variable Home Loan Investment 750k+ 80%: 15 basis point decrease to 3.99% p.a. (4.01% p.a. comparison rate*)

Australian Mutual Bank lifts variable home loan rates by 0.90% p.a.

The mutual bank has increased variable home loan rates by up to 90 basis points over the past week.

Increases to Australian Mutual Bank's home loan portfolio apply to variable rate loans with a LVR of 95%. 

Key changes include:

  • Basic Variable Home Loan: 90 basis point increase to 3.94% p.a. (4.01% p.a. comparison rate*)
  • Standard Variable: 90 basis point increase to 4.19% p.a. (4.26% p.a. comparison rate*)
  • First Home Buyer Loan Basic Variable: 90 basis point increase to 3.94% p.a. (3.97% p.a. comparison rate*)
  • First Home Buyer Loan Standard Variable: 90 basis point increase to 4.19% p.a. (4.22% p.a. comparison rate*)
  • Investment Variable: 90 basis point increase to 4.69% p.a. (4.76% 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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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
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Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning
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