The five basis point drop for new borrowers with loan-to-value ratios (LVRs) of up to 80% see the lender's rates among the lowest in the Savings.com.au data base.
| Product | New rate | Change (%) | Comparison rate* |
| Live-in (up to 80% LVR) | 5.19% p.a. | -0.05% | 5.10% p.a. |
| Investor (up to 80% LVR) | 5.39% p.a. | -0.05% | 5.30% p.a. |
Unloan's rates for those with more than 80% LVR also saw a 0.05% cut, as follows:
| Product | Current rate | Change (%) | Comparison rate* |
| Live-in (over 80% LVR) | 5.49% p.a. | -0.05% | 5.40% p.a. |
| Investor (over 80% LVR) | 5.69% p.a. | -0.05% | 5.60% p.a. |
While some smaller lenders are offering lower variable rates, many of the lowest advertised (currently 4.99% p.a.) are conditional deals available only to eligible first home buyers.
See also: Which home loans offer interest rates under 5%?
Only a handful of smaller lenders are offering variable owner occupier rates of between 5.14% p.a. and 5.18% p.a. to those with 20% deposits.
Why is Unloan cutting rates now?
The Commonwealth Bank-owned online lender has shaved select rates days before the Reserve Bank of Australia (RBA) meets to decide whether it will cut the cash rate.
The move throws the down the gauntlet in the competitive home loan market, buoyed by near record levels of investor lending and expecting an increase in activity from first home buyers under the recently expanded 5% Deposit Scheme.
It comes as CommBank looks to shore up its leading position in the home lending market - it currently boasts a 25.3% market share.
Another blow to brokers
CommBank has been also among the most aggressive of the big banks in looking to cut mortgage brokers from its business model.
Its CommBank-branded online Digi Home Loan, launched in May 2024, aimed to undercut the rate brokers were able to offer their clients.
Unloan was launched in May 2022, initially to home loan refinancers, and opened to new borrowers in April 2024.
Digi Home Loan rates have remained higher than Unloan's during that period.
Unloan's home loans also come with a unique loyalty feature, wherein the variable interest rate drops by 0.01% for each year the borrower holds the loan, for up to 30 years.
The RBA monetary policy board meets on 3-4 November to determine whether there will be another cut to the cash rate.
Chances of a November cut are looking increasingly unlikely after the latest quarterly inflation figures came in well above the RBA's forecasts.
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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.
| Lender | Home Loan | Interest 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 | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.94% p.a. | 5.98% p.a. | $2,978 | Principal & Interest | Variable | $0 | $530 | 90% |
| Promoted | Disclosure | ||||||||||
5.89% p.a. | 5.80% p.a. | $2,962 | Principal & Interest | Variable | $0 | $0 | 80% |
| Promoted | Disclosure | ||||||||||
5.99% p.a. | 6.02% p.a. | $2,995 | Principal & Interest | Fixed | $0 | $0 | 60% |
| Promoted | Disclosure | ||||||||||
5.93% p.a. | 5.93% p.a. | $2,975 | Principal & Interest | Variable | $0 | $395 | 70% | Disclosure |
