Interest Rates Down 0.25% – ANZ Commonwealth, NAB, ING, Westpac

 

BREAKING NEWS: 

ANZ for the last 2 years have broken their Friday interest rate review protocol and announced that they will reduce their variable interest rates by 0.25% effective February 12th

NAB also reduced rates today by 0.25%

Westpac slashes beyond rate cut by 0.28% effective 20th February 2015. RAMS, St George and Bank of Melbourne may do the same.

UPDATE: Commonwealth Bank first major to reduce their standard variable rate by 0.25%, effective 20th February 2015

The RBA announced this afternoon they have reduced the official cash rate by 0.25%.

It has been 18 months since interest rate have moved  and they are the lowest in 60 years.

We expect that lenders will announce their response over the coming days and we will keep you updated below.

If you have any questions feel free to contact us.

Below shows how much each lender passes on their home loan rates. Interest rates will be updated on our main website once each lender passes on the reduction.

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Interest Rates Steady – ANZ, NAB, CBA Westpac, ING, St George

The RBA announced this afternoon they have decided to leave the official RBA cash rate unchanged.

The variable interest rate has remained unchanged since August 2013 at 2.50%

Economists are predicting rates will rise next year as early as March with subsequent rises there after. I never pay too much attention to economists as they very often get it wrong as so many things can change between no and then.

We expect that lenders will therefore leave their variable interest rates unchanged as well, but will be monitoring in case of any changes outside of the official rate.

Even though variable interest rates are on hold for this month there are many fixed rate home loan and investment loan deals on the market.

Last month the major banks, ANZ, Commonwealth Bank, NAB and Westpac, had a fixed rate interest war and there are some very competitive rates available from all lenders.

If you are interested in exploring this further click the button below.

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Interest Rates On Hold For August ANZ CBA NAB Westpac

interest-ratesThe RBA announced this afternoon they have decided to leave the official RBA cash rate unchanged.

We expect that lenders will therefore leave their variable interest rates unchanged as well, but will be monitoring in case of any changes outside of the official rate.

Even though variable interest rates are on hold for this month there are many fixed rate home loan and investment loan deals on the market.

Last month the major banks, ANZ, Commonwealth Bank, NAM and Westpac, had a fixed rate interest war and there are some very competitive rates available from all lenders.

If you are interested in exploring this further click the button below.

mortgage-quotes

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5 Year Fixed Rate War – ANZ NAB CBA and Westpac

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No sooner I wrote that Commonwealth Bank reduced their 5 year fixed rate loans to 4.99%, NAB and Westpac also reduced their rate down to 4.99%.

All these loans are available under their packaged loans where there is an annual fee to be paid, up to $395 depending on the lender.

ANZ and other lenders have yet to reduce their 5 year fixed rate but the pressure from the other majors will see better deals in the coming months.

To see if these loans suit your lending needs feel free to contact us

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Variable Interest Rates On Hold – CBA ANZ NAB Westpac expect no changes

The Reserve Bank of Australia announced yesterday at 20pm that they will leave the official cash rate unchanged.

We expect that the major lenders (ANZ, NAB, Commonwealth Bank, Westpac) will therefore leave their variable interest rates unchanged as well, but will be monitoring in case of any changes outside of the official rate.

Fixed rates move independently of the RBA decision and we can keep you up to date with changes.

If you are seeking a new home or investment loan or would like to discuss your current mortgage feel free to contact us my clicking the “Free Mortgage Quote” button below.

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Variable Interest Rates On Hold, Fixed are Falling

The RBA announced this afternoon they have decided to leave the official RBA cash rate unchanged. It looks like that rates will remain stable for some time yet according to many economists.

We expect that lenders will therefore leave their variable interest rates unchanged as well, but will be monitoring in case of any changes outside of the official rate.

We have noticed that many lenders such as ANZ, Commonwealth Bank, NAB, ING Direct and Westpac have been decreasing their fixed interest rates. There are some good bargains to be had if you are seeking a fixed rate loan.

If you require assistance in comparing and seeking a competitive variable or fixed rate loan feel free to contact us by clinking the button below

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