All up, 14 individual home loan rates were cut, with some of the more noteworthy ones being:

  • Orange Advantage 150-499k: 60 basis point cut to 2.99% p.a. (3.33% p.a. comparison rate*)
  • Mortgage Simplifier 150-499k: 60 basis point cut to 2.94% p.a. (2.96% p.a. comparison rate*)
  • Inv Orange Advantage 150-499k: 15 basis point cut to 2.94% p.a. (3.28% p.a. comparison rate*)
  • Inv Mortgage Simplifier 150-499k: 15 basis point cut to 2.89% p.a. (2.91% p.a. comparison rate*)

The main difference between the two product lines is that the Orange Advantage has a 100% offset account. 

The maximum loan-to-value ratio (LVR) across these home loans is 80%, meaning borrowers must have at least a 20% deposit.

These cuts follow NAB's fixed rate increases on Wednesday - at least the third time this year it has raised rates.

On Thursday, Gateway Bank also made a few changes to variable and fixed rate home loans. 

It decreased a number of investment loan rates for borrowers paying interest-only. Some noteworthy changes were:

  • Premium Inv Variable 80% 150k+: 43 basis point cut to 2.79% p.a. (3.12% p.a. comparison rate*)
  • Inv Low Rate Essentials IO: 43 basis point cut to 2.75% p.a. (2.78% p.a. comparison rate*)
  • Premium Inv Fixed 1 Year: 14 basis point cut to 2.95% p.a. (5.02% p.a. comparison rate*)
  • Premium Inv Fixed 3 Years: 14 basis point cut to 3.05% p.a. (4.67% p.a. comparison rate*)

Part of the reason for the seemingly high comparison rate on the fixed loans is because the rate reverts to the Standard Variable IO home loan after the fixed period ends.

In this case, the Standard Variable IO rate is 5.61% p.a. (5.67% p.a. comparison rate*).


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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.
$2,589
Principal & Interest
Variable
$0
$530
90%
Featured 90% LVR
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6.29% p.a.
6.20% p.a.
$2,473
Principal & Interest
Variable
$0
$0
80%
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.





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