All of August’s out-of-cycle rate changes

Posted: 9 August 2018 9:36 am
News
uber-shock-shutterstock_740680381-738

July was the busiest month yet for out-of-cycle rate changes. What will August bring?

August's meeting officially marked two years of the Reserve Bank leaving the official cash rate on hold at 1.50%. The RBA now looks likely to leave the cash rate untouched through the rest of the year and perhaps even all of 2019, with CoreLogic's Tim Lawless speculating that a rate rise is unlikely to happen until at least January of 2020.

Lender activity doesn't look set to slow down, though. July was the year's busiest month yet for out-of-cycle rate changes. 26 lenders in Finder's database moved on rates outside the Reserve Bank.

As activity in the lending market heats up, it could be a great time to consider refinancing your home loan. We'll keep tabs on all this month's out-of-cycle rate moves in the table below, and continue to update as more lenders announce changes. Keep checking back to see if your lender has moved on rates, and if you could be getting a better deal.

Major bank changes

LenderChangeLoans affectedDate effective
ANZDown by 0.90%Simplicity PLUS Home Loan - LVR <80% Special Offer Discount (Owner Occupier, PI)August 2
Commonwealth BankUp by 0.30%Introductory Home Loan - 12 Months Discounted Loan (IO)August 13
NABUp by 0.48%Base Variable Rate Home Loan - Owner Occupier (P&I)August 13
LenderChangeLoans affectedDate effective
ANZDown by 0.10% - 0.26%Fixed Rate Home Loan - 2, 3 Years Fixed (Owner Occupier + Investor, P&I + IO), Breakfree Package Home Loan - 2, 3 Years Fixed (Owner Occupier + Investor, P&I + IO), Interest in Advance Loan (Yearly) - 2 Years With Breakfree Package + Without Breakfree PackageAugust 2
NABUp by 0.50%Choice Package Home Loan - 4 Year Fixed (Owner Occupier P&I)August 13
NABDown by 0.50%Choice Package Home Loan - 5 Year Fixed (Owner Occupier P&I), Defence Force Choice Package Fixed Home Loan - 5 YearsAugust 13

Non-major lenders

LenderChangeLoans affectedDate effective
AMPDown by 0.02% - 0.30%Professional Package Line of Credit -$100,000 to $249,999 + $250,000 to $499,999 + $500,000 to $749,999 + $750,000 and above (Owner Occupier +Investor, IO), Professional Package Variable Rate Home Loan - $100,000 to $249,999 + $250,000 to $499,999 + $500,000 to $749,999 + $750,000 and above (Owner Occupier + Investment, P&I + IO), Basic Package Variable Rate Loan - (Investors, P&I + IO)August 22
Arab Bank of AustraliaUp by 0.10%Bridging Loan - Standard + With Interest Capitalisation, HeadStart Home Loan - Variable Rate, The Basics Home Loan - Variable, Essentials Home Loan - Variable, Revolving Line of CreditAugust 1
BankwestUp by 0.29%Complete Home Loan Package Variable - LVR <=90% (Owner Occupier, P&I)August 24
BankwestDown by 0.30%Premium Select Home Loan - $20k+ (LVR 80% to 90%) (Investor, P&I)August 24
ClickLoansUp by 0.04% - 0.35%The Online Investor Home Loan - LVR <70% + <80%, The Online Home Loan - LVR <80% + <70% + <70% with Offset, The Online Home Loan Bad CreditAugust 1
Great Southern BankUp by 0.25%Fresh Start Variable Home Loan - (Owner Occupier + Investor, P&I + IO), Fresh Start Variable Home Loan - Construction (Owner Occupier + Investor, Interest Only), Fresh Start Basic Variable Home Loan - (Owner Occupier + Investor, P&I + IO), Fresh Start Basic Variable Home Loan - Construction (Owner Occupier + Investor, Interest Only)August 21
First Option Credit UnionUp by 0.10%Premium Home Loan - $150k to $600k + $800k+ + $600k to $800k (Owner Occupier + Investor, IO), Classic Home Loan - Interest Only (Owner Occupier + Investor)August 1
Gateway Bank Up by 0.09% - 1.31%Construction Loan, Investment Construction Loan, Land Loan - Variable Rate (Owner Occupier, P&I), Standard Variable Rate Home Loan (Owner Occupier + Investor, P&I), Equitismart Line of Credit (Owner Occupier + Investor, P&I), Low Rate Essentials Variable Rate Home Loan - LVR 80% to 85% (Investor, P&I)August 10
Gateway Bank Down by 0.01% - 0.50%Investment Land Variable, Standard Variable Rate Home Loan - Investor, IOAugust 10
Greater BankUp by 0.09%Great Rate Home Loan - Discounted Variable ($150K+ Owner Occupier + Investor) P&I + IO New Loans only, Great Rate Home Loan - Variable (Owner Occupier + Investment, P&I + IO), Ultimate Home Loan - Discounted Variable ($150K+ Owner Occupier + Investor) P&I New Loans only, Ultimate Home Loan - Variable (Owner Occupier + Investment, P&I + IO)August 15
Heritage BankUp by 0.05% - 0.43%Standard Variable Home Loan - (Owner Occupier) Existing customers only, Living Equity Line of Credit - (Owner Occupier) Existing customers only, Advantage Package - Living Equity (Owner Occupier + Investor) Existing customers onlyAugust 20
Heritage BankDown by 0.07% - 0.33%Discount Variable Home Loan - LVR <=80% + <=90% + <=95% (Owner Occupier + Investment, P&I) New Customers Only, Advantage Package - Standard Variable LVR <=80% + <=90% + <=95% $150k to $249k + $250k to $699k + $700k +(Owner Occupier, P&I) New Customers Only, Living Equity Line of Credit - (Investor) Existing customers onlyAugust 20
Horizon Credit Union Down by 0.10%Home Sweet Home LoanAugust 24
HSBCUp by 0.02% - 0.98%Home Equity Loan - (Owner Occupier + Investor, IO), Home Value Loan - Variable Rate (Owner Occupier + Investment, P&I + IO), Variable Home Loan - (Owner Occupier + Investment, P&I + IO), Home Smart Loan - (Owner Occupier + Investment), Premier Home Loan - Variable (Owner Occupier + Investment, P&I), Premier Home Equity Loan - Variable (Owner Occupier + Investment, Interest Only), Premier Home Smart Loan - Variable (Owner Occupier + Investment), Premier Variable Home Loan - (Investor, IO), Premier Market Linked Home Loan - Investors (HKD + USD)August 6
IMBDown by 0.10% - 0.23%Accelerator Home Loan - LVR <=95% $300k+ (Owner Occupier), Essentials Home Loan - LVR <=85 (Investor, IO)August 22
ME BankDown by 0.20% - 0.75%Basic Home Loan - LVR <=80% + > 80% (Owner Occupier, P&I)August 30
Mortgage HouseUp by 0.03%Advantage Variable Home Loan - LVR 80 Special (Investor, P&I)August 1
Newcastle Permanent Building SocietyUp by 0.08% - 0.12%Premium Plus Package Home Loan - Tier 1: below $500k + Tier 2: Over $500k + Tier 3: Over $750k + Tier 4: Over $900k + Tier 1, 2, 3, 4 combined loan balances below $500,000 (Owner Occupier + Investor, P&I + IO), Real Deal Home Loan - (Owner Occupier + Investor, P&I + IO), Real Equity Home Loan - Real Equity Credit Facility, Real Options Home Loan - (Owner Occupier, P&I + IO), Premium Variable Rate Home Loan - (Owner Occupier + Investor, P&I + IO), Premium Plus Package Home Loan - New Customer Offer ($150k+ Owner Occupier, P&I + IO) Discount 1 + Special Offer ($150,000+ Investor, P&I + IO)August 1
People's Choice Credit UnionUp by 0.10%Basic Variable - (Investor, IO)August 1
QBANKUp by 0.35%Classic Plus Package - $100k to $249k + $250k+ (Investor)August 8
Reduce Home LoansUp by 0.10%Investor Rate Buster Variable 100% Offset - LVR up to 80%August 1
Reduce Home LoansDown by 0.05%Cash Back Rate Buster Escape Home LoanAugust 1
Virgin MoneyUp by 0.05%Variable Home Loan - LVR <= 80% (<$500k Owner Occupier, P&I)August 27
LenderChangeLoans affectedDate effective]
Bank of MelbourneUp by 0.04% - 0.20%Fixed Rate Home Loan - 2, 3 Years Fixed Promotional, new loans only (Owner Occupier + Investment, P&I), Advantage Package Home Loan - 2,3 Years Fixed Promotional, new loans only (Owner Occupier + Investment, P&I + IO)August 14
Bank of MelbourneDown by 0.04%Fixed Rate Home Loan - 2 Years Fixed Promotional, new loans only (Investor, IO), Advantage Package Home Loan - 3 Years Fixed Promotional, new loans only (Owner Occupier, P&I)August 14
BankSAUp by 0.04% - 0.20%Fixed Rate Home Loan - 2, 3 Years Fixed Promotional, new loans only (Owner Occupier + Investment, P&I), Advantage Package Home Loan - 2, 3 Years Fixed Promotional, new loans only (Owner Occupier + Investment, P&I + IO)August 14
BankSADown by 0.04%Fixed Rate Home Loan - 2 Years Fixed Promotional, new loans only (Investor, IO), Advantage Package Home Loan - 3 Years Fixed Promotional, new loans only (Owner Occupier, P&I)August 14
BankwestDown by 0.05% - 0.45%Fixed Rate Home Loan -1, 2, 3, 4, 5 Years Fixed Rate (Owner Occupier + Investment)August 24
Heritage BankUp by 0.05% - 0.14%Fixed Rate Home Loan - 2, 3 Years Fixed Rate (Owner Occupier, P&I + Investor, IO) New Customers Only, Advantage Package - 2, 3 Years Fixed (Owner Occupier, P&I + Investor, IO) New Customers OnlyAugust 20
Heritage BankDown by 0.04% - 0.70%Fixed Rate Home Loan - 1, 2, 3, 5 Years Fixed Rate (Owner Occupier + Investment, P&I + IO) New Customers Only + Existing customers only, Advantage Package - 1, 2, 3, 5 Years Fixed (Owner Occupier + Investment, P&I + IO) New Customers Only + Existing customers onlyAugust 20
Horizon Credit UnionDown by 0.10% - 0.20%Fixed Rate Home Loan -1, 2, 3 Years Fixed (Owner Occupier + Investment)August 24
Hume BankDown by 0.04% - 0.10%Fixed Home Loan - 2, 3, 4, 5 Years (Owner Occupier + Investment, P&I), Refinance Fixed Home Loan - 2, 3, 4, 5 Years (Owner Occupier + Investment, P&I)August 29
IMBDown by 0.11%Fixed Rate Home Loan - 3 Years Fixed (LVR <=85% Investor, P&I + IO)August 22
Northern Inland Credit Union Down by 0.25% - 0.45%Smart Fixed Home Loan - 1, 2, 3 Years (Owner Occupier + Investment, P&I)August 16
People's Choice Credit UnionDown by 0.05% - 0.35%Investment Fixed - 1, 2, 3, 4, 5 Years P&I + IO, Home Loan Package -1, 2, 3, 4, 5 Years Fixed Package (Investor, P&I + IO)August 9
Tic:TocDown by 0.05% - 0.10%Live in Fixed Rate Home Loan - 1, 2 Years (Owner Occupier, P&I)August 27

Get more from Finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site