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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ANZ Home Loans Variable Interest Rates Unchanged

ANZ makes announcements on their home loans on the second Friday of every month.

After their March review their home loans and investment loans will remain unchanged.

Their standard variable rate will remain at 5.88%.

If you would like to get greater discounts on ANZ home loans or compare their loans with other lenders click the mortgage quote button below to get assistance.

 

 

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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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Interest Rates On Hold for September

Interest rates are kept steady at 2.50% for the month of September, less than a week out from the election.

The Reserve Bank are using a wait a see approach to see how local and global economic conditions move. Economists are predicting another interest rate cut before Christmas to aid Australia’s flagging economy.  They are siting the month of November on Melbourne Cup day as the date that interest rates are likely to drop again.

If you are looking for a home loan, investment or commercial loan we have qualified ASIC licensed mortgage advisers to help you

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Interest Rates Down Today by 0.25% – ANZ, Westpac, NAB, CBA, ING, Suncorp

UPDATE: NAB, Commonwealth Bank,  BOQ  and ING Direct drop home loan rates by 0.25%, Westpac by 0.28%

The Reserve Bank of Australia announced a 0.25% official cut to interest rates, down to 2.50%. The lowest in Australia’s history.

Although this is welcome news for variable interest rate home loan and other mortgage holders; however, it is not so good news for the state of  Australia’s slowing economy as the RBA reduces rates to help pick up economic activity.

One of the major banks has made comments about the cost of lending rising so we will have to wait and see how the major banks; Commonwealth Bank, ANZ, NAB and Westpac, will reduce their interest rates.

Below shows how much each lender passes on the interest rate cut. Interest rates will be updated on our main website once each lender passes on the reduction.

Current Bank Interest Rates Rate Cut
Adelaide Bank/ Bendigo Bank No Decision Yet
AMP No Decision Yet
ANZ -0.25% effective 16th August
Bank of Melbourne -0.25% effective 19th August
Bank of Queensland -0.25% effective 27th August
BankWest -0.25% effective 19th August
Citibank No Decision Yet
Commonwealth Bank -0.25 effective 14th August
Homeside Lending -0.25% effective 16th August
ING Direct Bank -0.25% effective 23rd August
Member equity bank ( ME) No Decision Yet
RAMS -0.25% effective 12th August
NAB -0.25% effective 12th August
St George Bank -0.25% effective 19th August
Suncorp Bank -.025% effective 26th August
Westpac -0.28% effective 19th August

 

GET MORE FROM YOUR HOME, INVESTMENT OR BUSINESS LOAN

If you are looking for a home loan or business loan we have qualified and ASIC licensed mortgage advisers to help you;

1. Find a competitive interest rate for commercial and home loans at no cost

2. We sift through 100’s of loans that include the major banks

3. Show you all the costs and fees associated with your loan

4. Show you how to beat the banks

5. Do all the paper work for you and process your loan quickly

Get a quick quote for your home loan or business loan by clicking any of the links below;

 

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Fixed Rate Home Loans Are Falling

Despite the RBA leaving variable interest rates on hold for July, fixed rate home loans and investment loans continue to fall.

Below is just a sample of the types of rates you may find in the Australian mortgage market. Please note that these loans may not suit all borrowers so it is imperative that you contact your mortgage advisor to see if these loans suit your lending needs.

1  Year Fixed Rate     4.69%     CPR 5.13%

2  Year Fixed Rate     4.79%     CPR 5.31%

3  Year Fixed Rate     4.68%     CPR 5.31%

4  Year Fixed Rate     5.21%     CPR 5.13%

5  Year Fixed Rate     5.29%     CPR 5.45%

7  Year Fixed Rate     7.30%     CPR 5.26%

10 Year Fixed Rate     7.30%     CPR 5.26%

For more information on fixed rate loans and to see if they suit your lending needs feel free to submit a mortgage quote by clicking the button below.

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