All of August’s out-of-cycle rate changes
July was the busiest month yet for out-of-cycle rate changes. What will August bring?
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
| Lender | Change | Loans affected | Date effective |
|---|---|---|---|
| ANZ | Down by 0.90% | Simplicity PLUS Home Loan - LVR <80% Special Offer Discount (Owner Occupier, PI) | August 2 |
| Commonwealth Bank | Up by 0.30% | Introductory Home Loan - 12 Months Discounted Loan (IO) | August 13 |
| NAB | Up by 0.48% | Base Variable Rate Home Loan - Owner Occupier (P&I) | August 13 |
| Lender | Change | Loans affected | Date effective |
|---|---|---|---|
| ANZ | Down 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 Package | August 2 |
| NAB | Up by 0.50% | Choice Package Home Loan - 4 Year Fixed (Owner Occupier P&I) | August 13 |
| NAB | Down by 0.50% | Choice Package Home Loan - 5 Year Fixed (Owner Occupier P&I), Defence Force Choice Package Fixed Home Loan - 5 Years | August 13 |
Non-major lenders
| Lender | Change | Loans affected | Date effective |
|---|---|---|---|
| AMP | Down 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 Australia | Up 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 Credit | August 1 |
| Bankwest | Up by 0.29% | Complete Home Loan Package Variable - LVR <=90% (Owner Occupier, P&I) | August 24 |
| Bankwest | Down by 0.30% | Premium Select Home Loan - $20k+ (LVR 80% to 90%) (Investor, P&I) | August 24 |
| ClickLoans | Up 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 Credit | August 1 |
| CUA | Up 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 Union | Up 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, IO | August 10 |
| Greater Bank | Up 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 Bank | Up 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 only | August 20 |
| Heritage Bank | Down 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 only | August 20 |
| Horizon Credit Union | Down by 0.10% | Home Sweet Home Loan | August 24 |
| HSBC | Up 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 |
| IMB | Down by 0.10% - 0.23% | Accelerator Home Loan - LVR <=95% $300k+ (Owner Occupier), Essentials Home Loan - LVR <=85 (Investor, IO) | August 22 |
| ME Bank | Down by 0.20% - 0.75% | Basic Home Loan - LVR <=80% + > 80% (Owner Occupier, P&I) | August 30 |
| Mortgage House | Up by 0.03% | Advantage Variable Home Loan - LVR 80 Special (Investor, P&I) | August 1 |
| Newcastle Permanent Building Society | Up 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 Union | Up by 0.10% | Basic Variable - (Investor, IO) | August 1 |
| QBANK | Up by 0.35% | Classic Plus Package - $100k to $249k + $250k+ (Investor) | August 8 |
| Reduce Home Loans | Up by 0.10% | Investor Rate Buster Variable 100% Offset - LVR up to 80% | August 1 |
| Reduce Home Loans | Down by 0.05% | Cash Back Rate Buster Escape Home Loan | August 1 |
| Virgin Money | Up by 0.05% | Variable Home Loan - LVR <= 80% (<$500k Owner Occupier, P&I) | August 27 |
| Lender | Change | Loans affected | Date effective] |
|---|---|---|---|
| Bank of Melbourne | Up 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 Melbourne | Down 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 |
| BankSA | Up 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 |
| BankSA | Down 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 |
| Bankwest | Down by 0.05% - 0.45% | Fixed Rate Home Loan -1, 2, 3, 4, 5 Years Fixed Rate (Owner Occupier + Investment) | August 24 |
| Heritage Bank | Up 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 Only | August 20 |
| Heritage Bank | Down 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 only | August 20 |
| Horizon Credit Union | Down by 0.10% - 0.20% | Fixed Rate Home Loan -1, 2, 3 Years Fixed (Owner Occupier + Investment) | August 24 |
| Hume Bank | Down 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 |
| IMB | Down 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 Union | Down 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:Toc | Down by 0.05% - 0.10% | Live in Fixed Rate Home Loan - 1, 2 Years (Owner Occupier, P&I) | August 27 |
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