It was a quiet week for rate changes, with Hume Bank and Adelaide Bank some of the only lenders to cut home loan rates.

Adelaide Bank made cuts by up to 24 basis points on some interest-only (IO) variable products:

  • Inv SmartSaver IO 80%: Down to 2.99% p.a. (2.71% p.a. comparison rate*)
  • SmartSaver IO 80%: Down to 2.99% p.a. (2.90% p.a. comparison rate*)

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.

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
6.14% p.a.
6.01% p.a.
$2,434
Principal & Interest
Fixed
$0
$0
90%
Free Redraw Facility
6.35% p.a.
6.26% p.a.
$2,489
Principal & Interest
Fixed
$0
$350
80%
6.69% p.a.
7.77% p.a.
$2,578
Principal & Interest
Fixed
$395
$0
80%
6.69% p.a.
7.19% p.a.
$2,578
Principal & Interest
Fixed
$0
$160
80%
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.

Meanwhile, Hume Bank cut a wide variety of home loans by up to 20 basis points, including the residential loan, fixed for two years paying principal & interest (P&I).

That loan is down to 2.19% p.a. (3.51% p.a. comparison rate*).

Some other notable rate changes from Hume Bank included:

  • Residential Fixed P&I 3 Years: Cut by 10 basis points to 2.19% p.a. (3.39% p.a. comparison rate*)
  • Investment Fixed P&I 1 Year: Cut by 10 basis points to 2.49% p.a. (4.12% p.a. comparison rate*)
  • Investment Flexi Low Rate 70% 'Special Offer': Cut by 10 basis points to 2.79% p.a. (2.79% p.a. comparison rate*)
  • Investment Fixed P&I 4 Years: Cut by 20 basis points to 2.99% p.a. (3.87% p.a. comparison rate*)

Hume Bank also has two home loans under 2%.

For owner-occupiers who have a 70% LVR (i.e. a 30% deposit), the two-year fixed rate is 1.99% p.a. (3.48% p.a. comparison rate*).

In addition, Hume Bank is distinct in that it is one of the only lenders to have a construction 'HomeBuilder' loan under 2% p.a.

That loan is 1.99% p.a. (3.34% p.a. comparison rate*).

However, the loan is subject to strict location guidelines - borrowers must be within a 150km radius of the Albury Post Office in NSW. 

Construction contracts must also be finalised before 31 December.

Photo by RealKina on Unsplash





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