The biggest cut belongs to Horizon Bank, which cut its five-year fixed loan, for both owner-occupiers and investors by 30 basis points. The key details are:

  • Owner Occupier Fixed 5 Years: Down to 2.99% p.a. (3.33% p.a. comparison rate*)
  • Investor Fixed 5 Years: Down to 3.24% p.a. (3.58% p.a. comparison rate*)

Meanwhile, Suncorp's biggest cuts were for its fixed loans for investors. Some key highlights were:

  • Home Package Plus Investment Fixed 90% 2 Years: 20 basis point cut to 2.79% p.a. (3.65% p.a. comparison rate*)
  • Home Package Plus Investment Fixed 80% 2 Years: 20 basis point cut to 2.59% p.a. (3.45% p.a. comparison rate*)

Note both of these lenders' cuts are for borrowers paying principal and interest (P&I), and Suncorp's cuts are for its packaged loans.

Buying a home or looking to refinance? The table below features home loans with some of the lowest fixed interest rates on the market for owner occupiers.

Lender

FixedMore details
Free Redraw Facility
Free Redraw Facility

Tiimely Home – Live-in Fixed Home Loan (Principal and Interest) 1 Year

    FixedMore details

    Westpac – Premier Package Fixed Options Home Loan (Principal and Interest) 1 Year (LVR 70%-80%)

      FixedMore details

      ANZ – Fixed Rate Home Loan (Principal and Interest) 1 Year (LVR < 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 December 8, 2023. View disclaimer.

        As seen above, borrowers could get a lower rate with a bigger deposit.

        This 'rate tiering' is a growing trend, and other lenders such as Athena and 86 400 have introduced automatic cuts for borrowers who pay down their mortgage.

        Meanwhile, on Monday, HSBC also cut a variety of home loans as a 'promotional offer' by up to 16 basis points.

        The home loan to get the biggest cut was the Premier Home Smart Variable P&I 80-90%, with a 16 basis point cut to 2.79% p.a. (3.25% p.a. comparison rate*)

        This is a packaged home loan and has a promotional rate for borrowers who apply by 30 November 2020.

        Reduce's 'lowest ever' home loan

        Earlier in the week, Reduce Home Loans introduced its first sub-2% home loan, The Reduce 'Rate Crusher' 1 Year Fixed P&I <80% at 1.90% p.a. (2.39% p.a. comparison rate*)

        Initially, this was offered as an introductory variable rate for one year, but Reduce then changed it to a one-year fixed loan.

        On the surface, there are effectively no differences, however, variable rates can change at any time, while fixed rates can be subject to break fees if a borrower decides to refinance.

        There could also be other fees for paying down the loan early.

        In Savings.com.au's market research, this new rate is the lowest on the market, and makes Reduce the ninth lender to introduce a home loan starting with a 1. 

        Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner occupiers.

        Lender

        VariableMore details
        Online ExclusiveUp To $4K Cashback Includes NOV RBA Rate Increase
        • Immediate cashback upon settlement
        • $2000 for loans up to $700,000
        • $4000 for loans over $700,000
        Online ExclusiveUp To $4K Cashback Includes NOV RBA Rate Increase

        loans.com.au – Variable Basic Cashback Home Loan (Principal and Interest) (LVR < 70%)

        • Immediate cashback upon settlement
        • $2000 for loans up to $700,000
        • $4000 for loans over $700,000
        VariableMore details
        Refinance OnlyApply In Minutes
        • 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.
        Refinance OnlyApply In Minutes

        Unloan – Variable Rate Home Loan – Refinance Only

        • 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.
        VariableMore details
        • Up is 100% owned by Bendigo Bank.
        • Up to 50 offset accounts
        • New joiners get $10 by signing up to the app using code UPHOMESAVINGS. (T&Cs apply)

        Up – Up Home Variable (Principal & Interest) (LVR ≤ 90)

        • Up is 100% owned by Bendigo Bank.
        • Up to 50 offset accounts
        • New joiners get $10 by signing up to the app using code UPHOMESAVINGS. (T&Cs apply)
        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 December 8, 2023. View disclaimer.





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