In total, from Savings.com.au's research, Macquarie made cuts to nearly 50 individual home loan products, from 10 basis points to 35 basis points. 

This follows on from a variety of home loan rate cuts the bank made two weeks ago, with a large proportion of both rate cuts  applying to loans with low LVRs (loan-to-value ratios), around 60-70%.

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

The lowest advertised interest rate is now 2.19% p.a, which applies to owner-occupied loans fixed for one and two years, paying principal and interest (P&I) - more details are below.

Borrowers must have a minimum deposit of 30% to access these rates i.e. 70% LVR. 

The cut to low LVR products "continues to reflect our prudent approach and ongoing focus on lower LVR lending", Macquarie's head of personal banking Ben Perham told Savings.com.au.

"We know homebuyers are looking for more certainty when it comes to their home loan," he said.

"Now, more than ever, they want to make sure their money is working hard for them and they’re looking for that extra peace of mind.

"That’s why we’re pleased to be offering our lowest fixed rates ever."

A note to Macquarie's broker network, as seen by Savings.com.au, also indicated the rate cuts were in-part prompted by broker feedback.

Home loans of note to get a haircut this week include:

  • Basic Fixed Investment P&I 70% 1 Year: 35 basis point cut to 2.59% p.a. (2.95% p.a. comparison rate*)
  • Basic Fixed Investment P&I 70% 2 Years: 35 basis point cut to 2.59% p.a. (2.92% p.a. comparison rate*)
  • Basic Fixed Investment P&I 70% 3 Years: 35 basis point cut to 2.59% p.a. (2.89% p.a. comparison rate*)
  • Basic Fixed Owner Occupied P&I 70% 1 Year: 20 basis point cut to 2.19% p.a. (2.69% p.a. comparison rate*)
  • Basic Fixed Owner Occupied P&I 70% 2 Years: 20 basis point cut to 2.19% p.a. (2.65% p.a. comparison rate*)
  • Basic Fixed Owner Occupied P&I 70% 3 Years: 20 basis point cut to 2.19% p.a. (2.60% p.a. comparison rate*)

A number of owner occupied loans with offset accounts also saw interest rate cuts by up to 35 basis points.

Freedom Lend, IMB also cut high LVR loans

Freedom Lend and IMB also made cuts by some margin, however, these lenders primarily focused on products requiring smaller deposits, some as low as 5%. Some featured cuts are below.

Freedom Lend rate cuts

  • Freedom Fixed P&I 2 Years 95%: 15 basis point cut to 2.19% p.a. (2.95% p.a. comparison rate*)
  • Freedom Fixed P&I 3 Years 80%: 10 basis point cut to 2.24% p.a. (2.66% p.a. comparison rate*)
  • Freedom Fixed P&I 3 Years 95%: 10 basis point cut to 2.24% p.a. (2.90% p.a. comparison rate*)

A number of home loans fixed for one, four and five years also saw cuts by up to 28 basis points.

IMB rate cuts

IMB made two key rate cuts yesterday, both by 10 basis points, and both down to an advertised rate of 2.99% p.a:

  • Residential Fixed P&I 4 Years 90%: 3.21% p.a. comparison rate*
  • Residential Fixed P&I 5 Years 90%: 3.20% p.a. comparison rate*

These rate changes follow on from rate changes last week, where NAB slashed some of its loans by up to 60 basis points while ANZ raised some of its own.



Ready, Set, Buy!


Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

Download Free
By subscribing you agree to our privacy policy