For Gateway Bank, its residential fixed loans for two and three years were cut by 129 basis points, while some investment loans also got a sizeable haircut. Some further details are:

  • Residential Fixed 3 Years: 129 basis point cut to 2.59% p.a. (4.05% p.a. comparison rate*)
  • Investment Fixed 3 Years: 115 basis point cut to 2.99% p.a. (4.66% p.a. comparison rate*)

A range of packaged home loans were also cut, and Gateway Bank also cut a raft of variable loans just three weeks ago.

Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest 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 TagsFeaturesLinkComparePromoted ProductDisclosure
6.04% p.a.
6.06% p.a.
$3,011
Principal & Interest
Variable
$0
$530
90%
4.6 Star Customer Ratings
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
5.99% p.a.
5.90% p.a.
$2,995
Principal & Interest
Variable
$0
$0
80%
Apply in minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
 Disclosure
6.09% p.a.
6.11% p.a.
$3,027
Principal & Interest
Variable
$0
$250
60%
  • No annual fees – None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
 Disclosure
5.69% p.a.
6.16% p.a.
$2,899
Principal & Interest
Fixed
$0
$530
90%
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Flexibility to split your loan with both fixed and variable rates
 Disclosure
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

Meanwhile, CUA also made some changes but for variable home loans, in both the owner-occupier and investment spaces. Some key details are:

  • Achieve Variable OO P&I 250k+: 25 basis point cut to 2.55% p.a. (2.60% p.a. comparison rate*)
  • Achieve Variable Inv P&I 250k+: 25 basis point cut to 2.86% p.a. (2.91% p.a. comparison rate*)

The 'Achieve' line is a series of basic home loans with a limited offset account attached.

Both of these customer-owned institutions cut rates despite no changes to the Reserve Bank cash rate earlier in the week.

Elsewhere, it was a very subdued week for rate changes, with Macquarie the only other lender of note to make some cuts, albeit only by 10 basis points this morning.

In total, Macquarie applied the cuts to in excess of 40 individual home loans, with some of the highlights including:

  • Basic Variable OO P&I 60% LVR: Down to 2.49% p.a. (2.49% p.a. comparison rate*)
  • Basic Variable OO P&I 70% LVR: Down to 2.54% p.a. (2.54% p.a. comparison rate*)
  • Basic Variable Inv P&I 60% LVR: Down to 2.69% p.a. (2.69% p.a. comparison rate*)

In a note to brokers, Macquarie said it hopes these new rates and "industry-leading" processing times lead to "more opportunities and conversations with your clients". 



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