It was a fairly quiet week for home loan rate cuts, with Macquarie Bank and Northern Inland Credit Union being the only lenders to make any.

Over the last few weeks, the bulk of rate cuts have been made to fixed loan products, with advertised rates hovering ever closer to the 1% p.a mark. 

Across the board, many fixed home loans now have similar rates to their variable loan counterparts, as seen in the table below.

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.

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

Macquarie Bank

Macquarie Bank made a wide variety of cuts across both owner occupier and investment loans. Key cuts are below:

  • Basic Variable Owner Occupied P&I 60: 5 basis point cut to 2.64% p.a. (2.64% p.a. comparison rate*)
  • Offset Variable Owner Occupied P&I 60: 5 basis point cut to 2.64% p.a. (2.91% p.a. comparison rate*)
  • Basic Flyer Home Loan P&I 60: 5 basis point cut to 2.69% p.a. (2.91% p.a. comparison rate*)
  • Offset Flyer Home Loan P&I 60: 5 basis point cut to 2.69% p.a. (2.91% p.a. comparison rate*)
  • Basic Variable Owner Occupied P&I 70: 10 basis point cut to 2.74% p.a. (2.74% p.a. comparison rate*)
  • Offset Variable Owner Occupied P&I 70: 10 basis point cut to 2.74% p.a. (3.01% p.a. comparison rate*)

And for investors...

  • Basic Variable Investment P&I 60: 10 basis point cut to 2.89% p.a. (2.89% p.a. comparison rate*)
  • Offset Variable Investment P&I 60: 10 basis point cut to 2.89% p.a. (3.16% p.a. comparison rate*)

Northern Inland Credit Union

This small credit union has made some pretty big rate cuts, reducing rates by up to 85 basis points across their owner occupier and investment home loans.

  • Introductory Home Loan P&I Fixed 1 yr: 50 basis point cut to 2.29% p.a. (3.92% p.a. comparison rate*)
  • Introductory Home Loan P&I Fixed 3 yrs: 50 basis point cut to 2.29% p.a. (3.65% p.a. comparison rate*)
  • Fixed Rate Owner Occupied 1 yr: 50 basis point cut to 2.79% p.a. (4.99% p.a. comparison rate*)
  • Fixed Rate Owner Occupied 3 yrs: 50 basis point cut to 2.79% p.a. (4.60% p.a. comparison rate*)

And for investors...

  • Introductory Investment Loan P&I Fixed 2 yrs: 70 basis point cut to 2.79% p.a. (3.87% p.a. comparison rate*)
  • Introductory Investment Loan P&I Fixed 3 yrs: 70 basis point cut to 2.79% p.a. (3.77% p.a. comparison rate*)
  • Introductory Investment Loan P&I Fixed 1 yr: 85 basis point cut to 2.79% p.a. (3.96% p.a. comparison rate*)

With the cash rate looking to be set in stone for some time, it may be a good time to consider fixing your interest rate and locking in the savings. 



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