Following the news of a fall in the unemployment rate and a slight lift in inflation, the RBA is now widely-expected to hold rates steady, rather than cut.
Two Queensland-based finance stalwarts were among the few Australian home loan lenders cutting home loan interest rates this week.
Suncorp
Suncorp made cuts to a variety of home loan products, including loans for investors and owner occupiers, including both interest only (IO) and principal and interest (P&I) loans.
Owner Occupiers
- Back to Basics OO IO 150k+: An 81 basis point cut to 3.03% p.a. (3.04% p.a. comparison rate*)
- Home Package Plus Variable OO IO 90% (Special Offer): A 55 basis point cut to 3.29% p.a. (3.65% p.a. comparison rate*)
- Home Package Plus First Home Buyer Variable <90% LVR: A 55 basis point cut to 3.29% p.a. (3.30% p.a. comparison rate*)
Investors
- Home Package Plus Package Investment Variable IO 90%: A 10 basis point cut to 4.87% p.a. (4.96% p.a. comparison rate*)
Be aware that 'Special Offer' rates may be withdrawn at any time.
QBank
Q Bank made cuts to two of its home loan products:
- Residential Fixed <95% LVR 3 yrs: A five basis point cut to 2.89% p.a. (3.75% p.a. comparison rate*)
- Fixed Investor <90% LVR 3 yrs: A five basis point cut to 3.14% p.a. (4.12% p.a. comparison rate*)
To compare, here is a selection of owner-occupier variable low-rate P&I loans:
Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Additional Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6.04% p.a. | 6.06% p.a. | $3,011 | Principal & Interest | Variable | $0 | $530 | 90% | 4.6 Star Customer Ratings |
| Promoted | Disclosure | |||||||||
5.99% p.a. | 5.90% p.a. | $2,995 | Principal & Interest | Variable | $0 | $0 | 80% | Apply in minutes |
| Promoted | Disclosure | |||||||||
5.69% p.a. | 6.16% p.a. | $2,899 | Principal & Interest | Fixed | $0 | $530 | 90% |
| Promoted | Disclosure |
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