All of June’s out-of-cycle rate changes
The RBA is in a record period of inactivity, but the home loan market is far from stagnant.
The Reserve Bank of Australia set a new record in June when it left the official cash rate untouched at 1.50% for the 20th consecutive meeting.
Lenders have slowed down their furious rate moves in response to the RBA's inactivity and tighter lending restrictions. But there are still plenty of great deals in the market. In May, five lenders in the finder.com.au database made changes to their rates independently of the RBA. The steepest cut was 52 basis points. A cut like this can make a huge difference to your repayments. For instance, if you had a $500,000 home loan at 4.00%, a 52 basis point cut to 3.48% could save you nearly $150 a month. Over the course of 30 years, you'd save a massive $53,075.
You can keep across all of June's out-of-cycle rate changes in the table below. We'll update the table as more lenders announce rate changes. If you see a better deal on offer than your current home loan, it could be time to refinance.
|Lender||Change||Loans affected||Date effective|
|AMP||Down by 0.05%||Professional Package Variable Rate Home Loan - $750,000 and above (Owner Occupier, P&I)||14 Jun|
|Bank First||Down by 0.05%||First Rate Home Loan - LVR < 80%, First Rate Home Loan - LVR > 80%||1 Jun|
|Beyond Bank||Down by 0.06% - 0.20%||Total Home Loan Package - All in one $300,00 to $499,999 (Owner Occupier) + Pinnacle Plus Package Home Loan - All-in-One $200,000 to $299,999||13 Jun|
|Beyond Bank||Up by 0.06% - 0.20%||Pinnacle Plus Package Home Loan - $150,000 plus (Investor, IO) New Money Offer + Pinnacle Plus Package Home Loan - All-in-One $300,000 plus (Owner Occupier)||13 Jun|
|Citibank||Up by 0.01% - 0.25%||Mortgage Plus Standard Variable Rate - $150,000 to < $500,000 LVR + ≥ $500,000 <=90% (Owner Occupier + Investor) + Basic Variable Rate Home Loan - LVR <=80% (Owner Occupier +Investor, P&I + IO) + Standard Variable Loan - ≥ $500,000 LVR ≤ 80% (Investor, P&I + IO)||12 Jun|
|Citibank||Down by 1.31%||Standard Variable Loan - ≥ $500,000 LVR ≤ 80% (Owner Occupier, P&I)||12 Jun|
|Homestar||Up by 0.05% - 0.15%||Finance Variable Rate Home Loan - <$750k LVR<70% +>$750k LVR<70% +<$750k LVR>70% +>$750k LVR>70% (Investor, IO + P&I)||25 Jun|
|IMB||Up by 0.01% - 0.08%||Standard Variable Home Loan - LVR <=80% + <=95% + <=90% (Owner Occupier + Investor, P&I + IO) + Introductory Variable Rate + Accelerator Home Loan - LVR <=95% $300k+ (Owner Occupier) + Essential Home Loan - LVR > 90% (Owner Occupier, P&I)||22 Jun|
|IMB||Down by 0.02%||Essentials Home Loan - LVR <=80 (Investor Only, P&I + IO)||22 Jun|
|ING||Down by 0.15%||Orange Advantage Loan - $150k to $500k +$500k to $1M +$1M (LVR <=80% Investor, P&I + IO) + ING Mortgage Simplifier Home Loan - $150,000 to $500,000 + $500k to $1M +$1M (LVR <=80% Investors, P&I + IO)||6 Jun|
|loans.com.au||Up by 0.10%||loans.com.au Offset Variable - 80% to 90% LVR + Up to 80% LVR + Package Offset (Investor P&I + IO) + loans.com.au Construction - Variable (Owner Occupier + Investor) + loans.com.au Essentials - Variable (Investor, IO) + (Investor, P&I)||7 Jun|
|Queenslanders Credit Union||Up by 0.30% - 0.56%||Ultimate Home Loan and Special Offers (LVR <=80%) P&I||5 Jun|
|Virgin Money||Down by 0.05% - 0.10%||Variable Home Loan - LVR <=80% (<$500k +$500k to $750k +$750k+ Investor, IO)||25 Jun|
|Lender||Change||Loans affected||Date effective]|
|Greater Bank||Up by 0.10%||Ultimate Home Loan - Discounted 3 Year Fixed LVR ≤90% ($150K+ Owner Occupier)||27 Jun|
|Homestar||Up by 0.05%||Fixed Rate Home Loan - 1,2,3,4,5 Year (Owner Occupier + Investor, P&I + IO)||21 Jun|
|IMB||Up by 0.10%||Fixed Rate Home Loan - 5 Years Fixed (LVR <=80% Investor, P&I)||22 Jun|
|IMB||Down by 0.10% - 0.90%||Fixed Rate Home Loan - 1,2,3,4,5 Year Fixed (LVR < 90% + > 90% Owner Occupier + LVR <=80% Investor, P&I)||22 Jun|
|Newcastle Permanent Building Society||Up by 0.10% - 0.15%||Newcastle Permanent Building Society Fixed Rate Home Loan - 2 , 3 , 7 10 (Owner occupier + Investor PI + IO)||4 Jun|
|Regional Australia Bank||Down by 0.15%||Partnership Advantage Fixed Home Loan - 1,2,3,5 Year (Investor PI + IO) + Regional Australia Bank Fixed Rate Home Loan - 1,2,3,5 Year (Investor PI + IO)||5 Jun|
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