The home loan with the biggest rate cut was the basic variable product for owner occupiers, paying interest-only, with a 60% loan-to-value ratio.

It was cut by 30 basis points down to 2.59% p.a. (2.59% p.a. comparison rate*).

All up there were about 30 individual rate changes, but a handful of other cuts included:

  • Basic Variable Owner Occ P&I 60%: 15 basis point cut to 2.14% p.a. (2.14% p.a. comparison rate*)
  • Basic Variable Owner Occ P&I 80%: 15 basis point cut to 2.24% p.a. (2.24% p.a. comparison rate*)
  • Basic Variable Inv P&I 60%: 10 basis point cut to 2.29% p.a. (2.29% p.a. comparison rate*)
  • Basic Variable Inv P&I 80%: 10 basis point cut to 2.49% p.a. (2.49% p.a. comparison rate*)

A noteworthy feature of these home loans is that the comparison rates are the same as the advertised rates - this implies there are little to no extra fees or other costs associated with the home loan.

Elsewhere, it was a pretty quiet week on the home loan front, particularly for rate cuts.

BankVic introduced a new 2 year introductory variable home loan for owner occupiers. 

The rate is 1.95% p.a. (2.92% p.a. comparison rate*).

Newcastle Permanent slashed its 'Real Deal' home loan as a special offer for owner occupiers with 80% LVR paying P&I.

The rate is 10 basis points lower, now 2.49% p.a. (2.53% p.a. comparison rate*).

Meanwhile, Heritage Bank increased rates on a handful of products by 10 basis points. Some included:

  • Residential Fixed 3 Years: Now 2.29% p.a. (4.07% p.a. comparison rate*)
  • Residential Fixed 5 Years: Now 2.69% p.a. (3.91% p.a. comparison rate*)
  • Investment Fixed 3 Years: Now 2.49% p.a. (4.51% p.a. comparison rate*)
  • Investment Fixed 5 Years: Now 2.99% p.a. (4.35% p.a. comparison rate*)

Heritage's fixed home loans are for borrowers with up to 90% LVR. 

The reason for the gulf between the advertised rate and comparison rate is because of a $600 application fee, and an $8 per month loan service fee, while the revert rate may also factor.

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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
More home loans
Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning
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