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

Adam Smith 11 December 2017 NEWS

christmas presents1Find out which lenders are handing out holiday cheer and which are giving big old lumps of coal.

There was no early Christmas present for home loan customers at December's Reserve Bank meeting, as the RBA board didn't deal a silly season cut. Instead, the Reserve ended the year by leaving the official cash rate on hold at 1.50%.

While the RBA may be playing Scrooge, lenders are still in a giving mood. Your lender may be one of those handing out holiday cheer with a home loan rate cut.

Last month, 10 lenders in the finder.com.au database made rate changes independent of the RBA. The steepest rate rise was 26 basis points, while the most generous rate cut was 30 basis points. To put that in perspective, if you had a $500,000 home loan at 4.00% interest, a rate hike of 26 basis points would increase the amount of interest you pay over 30 years by more than $27,000. A 30 basis point rate cut would reduce the amount of interest you pay by $26,760.

We'll record every out-of-cycle rate change announced by lenders during the month of December in the tables below. Check back often to see if your lender has made changes, and if you see a lender offering a better deal it could be time to think about refinancing.

Non-major lenders

LenderChangeLoans affectedDate effective
Beyond BankDown 0.25%Total Home Loan Package (New Money Offer, investor)Dec 12
G&C Mutual BankDown 0.20%First Home Premium PackageDec 12
LenderChangeLoans affectedDate effective
Catalyst MoneyDown 0.35% - 0.40%Fixed Invest - 1, 2 ,3 Years Fixed, Fixed Lite - 1, 2, 3 Years (owner occupier + principal and interest), Fixed Home Loan - 1, 2, 3 Years Fixed (owner occupier + principal and interest), Fixed Invest Lite - 1, 2, 3 Years FixedDec 11
G&C Mutual BankDown 0.05% - 0.25%Fixed Rate Home Loan - 3, 4, 5 Years Fixed (owner occupier + principal and interest)Dec 15
Illawarra Credit UnionDown 0.35% - 0.40%Fixed Invest - 1, 2, 3 Years, Fixed Home Loan - 1, 2, 3 Years Fixed (owner occupier + principal and interest), Fixed Invest Lite - 1, 2, 3 Years, Fixed Lite Home Loan - 1, 2, 3 Years (owner occupier + principal and interest)Dec 11
INGDown 0.10% - 0.40%Fixed Rate Home Loan - 1, 2, 3 Years Fixed (owner occupier), Fixed Rate with Orange Advantage - 1, 2, 3 Years Fixed Rate (owner occupier)Dec 15
Virgin MoneyDown 0.10% - 0.30%Fixed Rate Home Loan - 1, 2, 3, 4, 5 Years Fixed (investor + interest only), Fixed Rate Home Loan - 4 Years Fixed (investor, principal and interest)Dec 19

Compare refinance home loans today

Rates last updated February 23rd, 2019
$
Loan purpose
Offset account
Loan type
Repayment type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.59%
3.59%
$0
$0 p.a.
80%
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
3.59%
3.61%
$0
$0 p.a.
90%
Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online. Available with just a 10% deposit.
3.64%
3.66%
$0
$0 p.a.
80%
A simple mortgage with a competitive interest rate and no application or monthly fees. Borrow up to $2000000 from a convenient online lender.
3.49%
3.64%
$0
$10 monthly ($120 p.a.)
70%
A very low variable interest rate for home buyers with a 30% deposit. This product has a 100% offset account.
3.57%
3.58%
$0
$0 p.a.
80%
Get a very low interest rate and avoid big fees. Apply online for full approval in under 30 minutes and add a 100% offset account for $10 a month.
3.70%
3.70%
$0
$0 p.a.
70%
A low interest rate home loan with no application or ongoing fees.
3.59%
3.62%
$0
$0 p.a.
80%
A low, variable rate mortgage for home buyers wishing to consolidate existing debts. Refinancers can get up to $1,000 on settlement to help with switching costs.
3.69%
3.72%
$445
$0 p.a.
90%
NSW and ACT customers only. Get a special discount for a limited time when you open an IMB Transaction Account.
3.54%
3.58%
$0
$0 p.a.
80%
Refinancers can get a competitive rate, save on fees and access a 100% offset account plus redraw facility. $700 refinance cashback offer.
3.81%
3.81%
$0
$0 p.a.
70%
A simple mortgage with no application or ongoing fees that has extra repayments plus split and redraw options. Requires a 30% deposit.
3.70%
3.90%
$0
$0 p.a.
70%
Enjoy all the benefits of the Basic Home Loan and take advantage of an offset account.
3.59%
3.62%
$500
$0 p.a.
95%
This mortgage combines a very sharp interest rate with a 100% offset account and it's available with a 5% deposit.
3.97%
3.99%
$0
$0 p.a.
80%
This variable rate loan keeps the features simple and fees low. This loan is offered by a 100% online lender.
3.54%
3.69%
$0
$10 monthly ($120 p.a.)
80%
A competitive variable rate for home buyers with a 20% deposit. This product has a 100% offset account.
3.49%
4.58%
$0
$395 p.a.
90%
Loans over $150000 get a discount off an already low fixed rate. Available for NSW, QLD and ACT residents only.
3.69%
3.85%
$0
$10 monthly ($120 p.a.)
70%
A low fixed rate mortgage for borrowers with a 30% deposit. Comes with a 100% offset account.
3.73%
3.87%
$0
$10 monthly ($120 p.a.)
80%
Earn Velocity Frequent Flyer Points with this mortgage to spend on flights and more (for a limited time, subject to eligibility requirements). Redraw facility available on this variable rate home loan. Competitive interest rate.
3.74%
4.49%
$445
$6 monthly ($72 p.a.)
90%
NSW and ACT customers only. 3 years fixed interest terms and free access to redraw facility online.
3.74%
4.01%
$395
$0 p.a.
80%
A competitive 3 year fixed rate with no ongoing bank fees.
3.86%
3.86%
$0
$0 p.a.
80%
Low fee loan with extra repayments. Pay no application and ongoing fees and take advantage of split and redraw options.
3.79%
3.79%
$0
$0 p.a.
80%
Access an offset account and pay no application or ongoing fees on this special variable rate for owner-occupiers.
3.59%
3.63%
$0
$0 p.a.
90%
Get a low variable interest rate and buy a property with just a 10% deposit. 100% offset account attached.
3.82%
3.93%
$0
$10 monthly ($120 p.a.)
90%
Get Velocity Frequent Flyer Points at settlement, monthly and every three years, plus the option to make up to $10,000 a year in extra repayments.
3.68%
3.70%
$0
$0 p.a.
80%
A competitive variable rate mortgage for owner occupiers that comes with a no fee debit card with a $5,000 limit.
3.87%
4.30%
$0
$395 p.a.
80%
Unlock a range of savings with this competitive package home loan offer. Offset account and redraw facility included.
3.74%
4.13%
$0
$349 p.a.
90%
Get a sharp rate plus package discounts and a 100% offset account.
3.70%
3.70%
$0
$0 p.a.
70%
Get a discount for keeping your LVR at $70% or below with this innovative online lender.
3.69%
3.83%
$0
$10 monthly ($120 p.a.)
80%
Earn Velocity Frequent Flyer Points on your mortgage (subject to eligibility requirements). Plus, access a 100% offset account to save on interest.
3.81%
4.06%
$0
$248 p.a.
70%
Borrowers with a 30% deposit can get this competitive rate. Cut down on interest costs with a 100% offset account.
3.84%
3.84%
$0
$0 p.a.
80%
Pay no application or ongoing fees and get access to a free redraw facility with this innovative online lender.
3.72%
3.74%
$0
$0 p.a.
80%
Save on interest by taking advantage of a 100% offset account along with no ongoing fees or application fees.
3.59%
4.14%
$395
$0 p.a.
80%
A one year fixed rate offer with no ongoing bank fees.
3.69%
4.08%
$0
$349 p.a.
90%
Package your loan with other AMP products and save on rates and fees.
3.74%
3.74%
$0
$0 p.a.
80%
Pay no application or ongoing fees and get access to a redraw facility and flexible repayment schedule.
3.74%
4.56%
$0
$395 p.a.
90%
A fixed rate loan with a 100% offset account and the option to make additional repayments. Loans over $150000 receive a discounted rate. NSW, QLD and ACT residents only.
3.99%
4.92%
$0
$0 p.a.
80%
Access a fee-free 100% offset account and pay no application or ongoing fees.
4.19%
4.64%
$395
$0 p.a.
80%
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
4.48%
4.24%
$0
$0 p.a.
80%
Fix your rate and minimise repayments for 2 years with this interest-only investor mortgage.
4.14%
4.87%
$0
$0 p.a.
80%
Pay no application fees and access a fee-free redraw facility with this fixed rate loan.
4.14%
3.94%
$0
$0 p.a.
80%
Pay no application or ongoing fee and borrow up to 80% LVR.

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