ING Direct Interest Rate Discount 3.99% (CPR 4.19%)

ING Direct have reduced their Orange Advantage home loan  product at a variable rate of 3.99% (comparison rate 4.19% p.a.) which will be available until 31st October 2015.

This offer is only available for;

– New residential lending with new to ING DIRECT security property (standard minimum loan amount applies)

– Borrow up to 80% of the properties value

– Only for Owner occupied loan purpose

– Principal & Interest repayments

Other advantages is that ING Direct will waive the first year annual fee values at $199 and reduce any fixed interest rate product by 0.10%.

To view this product click here or compare it to hundreds of other products you can compare home loans here

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Westpac, ING Direct, ME Bank Interest Rate Announcements

After the Reserve Bank of Australia decided to reduce variable interest rates by 0.25% on Tuesday these lenders are also reducing their home loan and investment loan variable interest rates.

Westpac like the NAB and the Commonwealth Bank decided not to pass on the full interest rate cut and reduced their variable home loan and investment loan rates by 0.22% effective 18th May.

ME Bank will reduce their variable interest rates by 0.25% effective 22nd May 2015. You can compare ME Bank variable loans

ING Direct also announced that it will be reducing their interest rates for residential and commercial property loans by 0.25% on the 18th May. You can compare ING Direct home loans here

To see how other lenders are responding and the dates they will reduce their rates – Lender interest rate reduction and date

To compare home loans and investment loans click the button below

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NAB Partial Variable Rate Cut May 2015

Similarly to Commonwealth Bank, the NAB announced today that they will pass on part of the variable rate cut by 0.20% for May 2015

The new variable interest rate reduction will be passed onto consumers on the 13th May and applies to most of their  home loan and investment loan variable rate products.

To see how other lenders are responding and the dates they will reduce their rates – Lender interest rate reduction and date

Compare NAB Home Loans – rates will be updated by 13th May

To compare home loans and investment click the button below

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ANZ Drops Variable Rates By the Full Amount

ANZ announced today that they will pass on the full variable rate cut of 0.25% for May 2015 after the RBA’s decision to reduce interest rates by 0.25%. Obviously, the funding pressures are not as relevant as the Commonwealth Bank’s announcement to only pass on 0.20% of the interest rate cut.

The new variable interest rate reduction will be passed onto consumers on the 8th May and applies to most of their variable rate products.

To see how other lenders are responding and the dates they will reduce their rates – Lender interest rate reduction and date

Compare ANZ Bank Home Loans – rates will be updated by 8th May

To compare home loans and investment click the button below

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Interest Rates Drop by 0.25% – Commonwealth Bank, ANZ, NAB,Westpac, ING

The Reserve Bank of Australia (RBA) announced that it will move the official cash rate from 2.25% to a new record low of 2%.

In a close call among economists,  the RBA drop rates to stimulate the Australian economy and to put downward pressure on the Australian dollar.

It is expected that Australia’s  home loan lenders will drop their variable interest rates by 0.25% easing the monthly repayment made by borrowers.

We will keep you updated on how much and  the major lenders are going to reduce their interest rates with our trusty interest rate table.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank -0.20% 25th May 2015
AMP -0.20% 22nd May 2015
ANZ -0.25% 8th May 2015
Bank of Melbourne -0.20% 18th May 2015
Bank of Queensland -0.20% 26th May 2015
BankWest -0.17% 19th May 2015
Citibank No Announcement Yet
Commonwealth Bank -0.20% 13th May 2015
ING Direct Bank -0.25% 18th May 2015
Member equity bank ( ME) -0.25% 22 May 2015
RAMS Home Loans -0.20% 22nd May 2015
NAB -0.20% 13th May 2015
St George Bank -0.20% 18th May 2015
Suncorp Bank -0.20% 15th May 2015
Westpac -0.22% 18th May 2015

 

To keep up to date with all of Australia’s major lenders click the button below and compare interest rates

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Interest Rates to Remain On Hold

Happy New Year!

It looks like interest rates are going to remain stable for the rest of the year with a bias for going southwards.

That being said, anything can happen between now and then but in the meantime the future looks like they will be stable.

The Reserve Bank of Australia has indicated that it would like to see our dollar drop further and they can manipulate this by reducing interest rates. Also, the Australian economy seems to be struggling at the moment with the sluggish Chinese economy significantly affecting commodity prices.

We will have to wait and see but with interest rates at a record low there are some great deals out there to be found.

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