All of May’s out-of-cycle rate changes
Lenders are kicking competition into high gear.
The Reserve Bank of Australia surprised no one at its May meeting when it chose to leave the official cash rate untouched at 1.50%.
While the RBA may be stuck in neutral, lenders are still kicking competition into gear. In April, 10 lenders in the finder.com.au database made rate changes independently of the RBA. Most of the moves were rate cuts, with the most significant cut at 77 basis points. A cut like this could make a massive difference to your monthly repayments, and could save you thousands over the life of your home loan.
You can stay informed about all of May's out-of-cycle rate changes in the table below. We'll keep the table updated as lenders announce their rate moves. If you see a better deal than you're currently getting, it could be time to refinance.
|Lender||Change||Loans affected||Date effective|
|Homeloans||Down from 0.20% to 0.52%||Ultra Plus Variable Home Loan $200k+ LVR <=80% & $200k+ LVR <=80% (Owner Occupier I/O , Investor P&I)||9 May|
|Homeloans||Up from 0.02% to 0.52%||Ultra Plus Variable Home Loan $200k+ LVR 80.01% to 90% (Investor, Owner Occupier P&I) + Up to $200,000 LVR > 90% (Owner Occupier, P&I) + Up to $200,000 LVR 80.01% to 90%, LVR 70.01% to 80% (Owner Occupier, P&I) + up to $199,999 LVR 70.01% to 80%, LVR 80.01% to 90% (Owner Occupier I/O, Investor, P&I)||9 May|
|ME||Down from 0.10% to 0.20%||Flexible Home Loan With Member Package - LVR <=80%, LVR >80% & <=90% $400k $400k up to $699,999 (Investor, P&I) + LVR <=80%, LVR >80% & <=90% $150k up to $399,999 (Investor, P&I)||10 May|
|Move||Down 0.30%||First Home Loan||11 May|
|MyState||Up by 0.09%||Special Residential Home Loan - LVR <=80%, LVR 80% to 90%, LVR >90% (Owner Occupier, P&I) + Line of Credit Loan - Cash on Hand and Investment (Mortgage Secured) + Standard Variable Home Loan - LVR <=80% and LVR >80% (Owner Occupier and Investor P&I and IO) + Special Residential Home Loan - LVR <=80% (Owner Occupier and Investor IO and P&I) + Basic Variable Home Loan - LVR <=80%, LVR >80% to <=90% , LVR >90% and (Owner Occupier and Investor P&I and IO)||29 May|
|Newcastle Permanent||Down by 0.19%||Premium Plus Package Special Offer (investor, principal and interest or interest only)||28 May|
|Lender||Change||Loans affected||Date effective]|
|Move||Down from 0.10% to 0.40%||Lockit 3 Year Investment Home Loan + 3 Year Flexi Fixed Rate Home Loan||23 May|
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