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

Posted: 3 October 2017 11:25 am
News

money question guy in suitIf your lender isn't cutting rates, it could be time to refinance for a better deal.

The Reserve Bank chose to leave the official cash rate on hold again this month, and it appears likely the RBA will remain sidelined well into next year. In spite of this, lenders have continued to chart their own course. Last month seven lenders in the finder.com.au database made changes to their rates, and those changes could have big implications to your hip pocket.

Even a slight change in rates could save you thousands over the life of your home loan. Check out the table below to see which lenders move on interest rates throughout the month of October. If your lender raises rates, or fails to cut them when other lenders are making downward moves, it could be time to look for a better deal on your home loan.

Major bank changes

LenderChangeLoans affectedDate effective
LenderChangeLoans affectedDate effective

Other lenders

LenderChangeLoans affectedDate effective
Bank of MelbourneDown by 0.02%Basic Promotional home loan (Owner Occupier, P&I)Oct 23
BankSADown by 0.02%Basic Promotional home loan (Owner Occupier, P&I)Oct 23
Community FirstUp by 0.25%Honeymoon Home Loan - 1 Year Into (owner occupier, interest only)Oct 12
Community FirstUp by 0.25% - 0.35%Standard Variable (owner occupier, interest only), Accelerate Home Loan Package (owner occupier, interest only), Basic Variable (owner occupier, interest only)Oct 26
CUADown by 0.09%Advance Variable Home Loan (Owner Occupier, P&I)Oct 17
Easy StreetUp by 0.25%Honeymoon Home Loan - 1 Year Into (owner occupier, interest only)Oct 12
St.GeorgeDown by 0.02%Basic Promotional home loan (Owner Occupier, P&I)Oct 23
Tic:TocDown by 0.10%Live-in Variable Rate Home Loan Owner OccupierOct 13
LenderChangeLoans affectedDate effective
BankwestDown by 0.22% - 0.26%Complete Home Loan Package Fixed - 2 Years Fixed (LVR <90%, owner occupier + investor, principal and interest)Oct 18
Bank of MelbourneDown by 0.20%Standard Fixed Rate 2 Year (Investor, P&I)Oct 23
BankSADown by 0.20%Standard Fixed Rate 2 Year (Investor, P&I)Oct 23
Bendigo Bank Down 0.10% -0.20%Bendigo Bank Fixed Rate Home Loan - 1, 2, 3, 4, 5, Years (investor p&i + io), Bendigo Bank Connect Fixed Rate Home Loan - 1, 2, 3, 4, 5, Years (investor p&i + io), Bendigo Bank Basic Fixed Rate Home Loan - 1, 2, 3, 4, 5, Years (investor p&i + io)Oct 4
Community FirstUp 0.15% - 0.25%Fixed Rate Home Loan - 1, 2, 3 Years Fixed (owner occupier + investor, principal and interest + interest only)Oct 12
CUADown 0.20%Fixed Rate Home Loan - 3 Years Fixed (investor), Premium Fixed Home Loan - 3 Years Fixed (investor)Oct 12
Easy StreetUp 0.15% - 0.35%Fixed Rate Home Loan - 2, 3 Years Fixed (owner occupier + investor, principal and interest + interest only)Oct 12
IMBDown 0.10%IMB Fixed Rate Home Loan - 2 Year Fixed Rate (owner occupier p&i), IMB Platinum Package Fixed Home Loan - 2 Year Fixed Rate Home Loan (owner occupier)Oct 4
INGUp 0.20%Fixed Rate Home Loan - 3 Year Fixed Rate (Owner occupiers + Owner occupiers with Orange Advantage)Oct 18
Macquarie BankDown 0.11%Basic Fixed Home Loan - 3 Years Fixed (LVR <80% up to $750k, Owner Occupier + principal and interest), Offset Home Loan Package - 3 Years Fixed (LVR <80% up to $750k, Owner Occupier + principal and interest)Oct 16
MEDown 0.25%Flexible Home Loan Fixed - 2 Years Fixed Rate (Investor, P&I), Flexible Home Loan Fixed with Members Package - 2 Years Fixed Rate (Investor, P&I)Oct 19
Northern Beaches Credit UnionUp 0.15% - 0.25%Fixed Rate Home Loan - 1, 2, 3 Years (owner occupier + investor, principal and interest + interest only)Oct 12
St.GeorgeDown by 0.20%Standard Fixed Rate 2 Year (Investor, P&I)Oct 23
UbankUp 0.05% - 0.10%UBank UHomeLoan - 3, 5 Year Fixed Rate (Investor p&i + io)Oct 16

Compare refinance home loans today

Data indicated here is updated regularly
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Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
2.64%
2.66%
$0
$0 p.a.
80%
Up to $4,000 refinance cashback.
A competitive variable rate loan from St.George. Refinancers borrowing $250,000 or more can get up $4,000 cashback for their first application (Other terms, conditions and exclusions apply).
Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)
2.29%
2.72%
$0
$8 monthly ($96 p.a.)
95%
Up to $3,000 refinance cashback.
A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate
2.49%
2.49%
$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.
Athena Celebrate Home Loan - 60% LVR  Owner Occupier, P&I
2.39%
2.39%
$0
$0 p.a.
60%
A very low variable rate for home buyers with 40% deposits or equity. This rate takes effect from 30 September for new and existing customers. You can get this rate if you apply today.
Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)
2.68%
2.69%
$0
$0 p.a.
80%
$2,000 to $3,000 refinance cashback.
Get a competitive variable interest rate with no application fee or ongoing fees. Refinance to an eligible Suncorp loan and get a cashback of $2,000 or $3,000, depending on your loan amount. Other conditions apply.
HSBC Home Value Loan - Promotional Offer (Owner Occupier P&I)
2.59%
2.60%
$0
$0 p.a.
80%
Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.
homeloans.com.au Low Rate Home Loan with Offset - LVR Under 60% (Owner Occupier, P&I)
2.44%
2.46%
$0
$0 p.a.
60%
A competitive rate with no application or ongoing fee. This loan is not available for construction.
Tic:Toc Live in 10% deposit Variable Rate - Principal & Interest
2.39%
2.40%
$0
$0 p.a.
90%
Get a very low interest rate and pay no application, settlement or valuation fees. Apply online for full approval in real time and add a 100% offset account for $10 a month.
Yard Variable Home Loan - LVR 80% Special (Owner Occupier, P&I)
2.39%
2.42%
$0
$0 p.a.
80%
A very low variable rate loan for home buyers with an optional offset account ($10 monthly fee). 20% deposit required.
Well Home Loans Balanced Variable - LVR 80% Special Offer (Owner occupier, P&I)
2.17%
2.20%
$250
$0 p.a.
80%
A very low interest rate for home buyers with 20% deposits saved. Add an offset account for a small fee. This special discount rate is available for new borrowers who apply and get approved by 30 November 2020. Not available for construction purposes.
Virgin Money Reward Me Variable Home Loan - LVR ≤ 60% ($750k+ Owner Occupier, P&I)
2.55%
2.72%
$300
$10 monthly ($120 p.a.)
60%
$2,500 refinance cashback
Buy your home and lock in a low rate for the first two years. Get a $2,500 cashback when you switch to Virgin Money with a loan amount of $300,000 or more with an LVR up to 80%. You must apply by 28 August and settle by 30 October 2020.
IMB Budget Home Loan - LVR ≤80% (Owner Occupier, P&I, NSW and ACT borrowers only)
2.61%
2.67%
$449
$0 p.a.
80%
A competitive variable rate for borrowers with 20% deposits saved. Available for NSW and ACT borrowers only.
Athena Evaporate Home Loan - 60% to 70% LVR  Owner Occupier, P&I
2.49%
2.43%
$0
$0 p.a.
70%
A low variable rate for owner occupiers with 30% deposits. This rate takes effect from 30 September for new and existing customers. You can get this rate if you apply today.
AMP Bank Professional Package Variable Rate Home Loan - $100,000 and above, LVR ≤ 80% incl. LMI (Owner Occupier, P&I)
2.59%
3.00%
$0
$349 p.a.
80%
Get a sharp rate with no application or settlement fee, a redraw facility and 100% offset account. Other fees and charges apply.
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I (*now 2.59%, drops to 2.54% on 30 Sep)
2.54%
2.46%
$0
$0 p.a.
80%
A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan. This rate will drop to 2.54% p.a on 30 September 2020 for new and existing customers. You can get this rate if you apply today.
homeloans.com.au Low Rate Home Loan with Offset - LVR 60% to 80% (Owner Occupier, P&I)
2.54%
2.56%
$0
$0 p.a.
90%
This loan offers a competitive variable rate and a 100% offset account to help save you on interest repayments. This loan is not available for construction.
Virgin Money Reward Me Fixed Rate Home Loan - 2 Year $300k+ Special offer (Owner Occupier, P&I)
2.29%
2.87%
$300
$10 monthly ($120 p.a.)
80%
$2,500 refinance cashback
Buy your home and lock in a low rate for the first two years. Get a $2,500 cashback when you switch to Virgin Money with a loan amount of $300,000 or more with an LVR up to 80%. You must apply by 28 August and settle by 30 October 2020.
IMB Budget Home Loan - Special LVR  ≤90% (Owner Occupier, P&I, NSW and ACT borrowers only)
2.78%
2.84%
$449
$0 p.a.
90%
NSW and ACT customers only. You can get an interest rate discount for a limited time with this competitive variable mortgage.
homeloans.com.au Low Rate Home Loan with Offset - LVR 80% to 90% (Owner Occupier, P&I)
2.74%
2.76%
$0
$0 p.a.
90%
Save on interest with a free 100% offset account and buy your property with just a 10% deposit. This loan is not available for construction.
Greater Bank Great Rate Discount Variable with Family Pledge Home Loan - Up to 110% LVR
2.68%
2.69%
$0
$0 p.a.
110%
Pay no deposit or LMI and get a discounted rate with this family pledge loan. Requires a family member to act as guarantor. NSW, QLD and ACT only.
Well Home Loans Balanced Fixed Home Loan - 2 Year (Owner occupier, P&I)
2.22%
2.21%
$250
$0 p.a.
90%
A low fixed mortgage with an optional 100% offset account. Not available for construction purposes.
G&C Mutual Bank Momentum Home Loan - LVR <50% (Owner Occupier, P&I)
2.55%
2.57%
$0
$0 p.a.
A variable rate loan for owner-occupiers looking to refinance. This loan has low fees and a 100% offset account.
Bank of Melbourne Basic Home Loan - Special Offer (Owner Occupiers, P&I) LVR above 60% up to 80%
2.64%
2.66%
$0
$0 p.a.
80%
Up to $4,000 refinance cashback
A competitive variable rate loan from Bank of Melbourne. Refinancers borrowing $250,000 or more can get up $4,000 cashback for their first application (Other terms, conditions and exclusions apply).
Well Home Loans Balanced Variable - LVR 90% (Owner occupier, P&I)
2.52%
2.55%
$250
$0 p.a.
90%
A very low variable interest rate for borrowers with a 10% deposit. Add a 100% offset account for $10 a month. Not available for construction purposes.
Bankwest Complete Home Loan Package Variable - $200k to <$750k LVR ≤80% (Owner Occupier, P&I)
2.73%
3.18%
$0
$395 p.a.
80%
A low variable rate loan with a 100% offset account and package discounts.
HSBC Home Value Loan - Promotional Offer LVR 90% (Owner Occupier, P&I)
2.69%
2.70%
$0
$0 p.a.
90%
A competitive value home loan with no ongoing fee.
Well Home Loans Balanced Fixed Home Loan - 3 Year (Owner Occupier, P&I)
2.27%
2.23%
$250
$0 p.a.
90%
A low 3 year fixed rate for home buyers. Add a 100% offset account with a $10 monthly fee. Not available for construction purposes.
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier, P&I)
2.14%
2.46%
$395
$0 p.a.
80%
Fix your mortgage for 1 year with a very competitive rate and no ongoing fees.
Heritage Bank Fixed Rate Home Loan - 2 Year Fixed Rate (Owner Occupier, P&I) New Customers Only
2.59%
4.26%
$600
$8 monthly ($96 p.a.)
95%
Get a partial offset account and the option to make interest-only repayments.
Bluestone Prime Direct (Owner Occupier, P&I)
2.49%
2.51%
$0
$0 p.a.
70%
Bluestone's Prime Direct is a competitive variable rate home loan for borrowers with 30% deposits.
Newcastle Permanent Building Society Real Deal Home Loan - Special Offer 1 (Owner Occupier, P&I)
2.59%
2.63%
$595
$0 p.a.
80%
$2,000 refinance cashback
$2,000 cashback for eligible refinancers borrowing $250,000 or more.
BankSA Basic Home Loan - Owner Occupier, P&I
2.64%
2.66%
$0
$0 p.a.
80%
Up to $4,000 refinance cashback
A competitive variable rate loan from BankSA. Refinancers borrowing $200,000 or more can get up $4,000 cashback for their first application (Other terms, conditions and exclusions apply).
Newcastle Permanent Building Society Fixed Rate Home Loan - 1 Year Fixed (Owner Occupier, P&I)
2.49%
4.12%
$595
$0 p.a.
90%
$2,000 refinance cashback
Investors can take advantage of a short term fixed rate with no ongoing fees. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
ME Flexible Home Loan With Member Package - LVR ≤80% $400k up to $699,999 (Owner Occupier, P&I)
2.84%
3.29%
$0
$395 p.a.
80%
Unlock a range of savings with this competitive package home loan offer. Offset account and redraw facility included.
Heritage Bank Discount Variable Home Loan - LVR ≤ 80% (Owner Occupier, P&I) New Customers Only
2.78%
2.80%
$600
$0 p.a.
80%
Family guarantee option available. Enjoy flexible repayments and a low minimum loan amount.
ME Flexible Home Loan Fixed - 3 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
2.34%
3.82%
$0
$0 p.a.
80%
Pay no application fees and access a fee-free redraw facility with this fixed rate loan.
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate - 2 Year Fixed (Owner Occupier, P&I)
2.44%
3.76%
$0
$395 p.a.
95%
$2,000 refinance cashback
Enjoy a discounted fixed rate and the ability to package the loan with other financial products. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
UBank UHomeLoan - 1 Year Fixed Rate (Investor, P&I)
2.29%
2.84%
$395
$0 p.a.
80%
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
Greater Bank Great Rate Home Loan - Discounted 1 Year Fixed with Family Pledge Home Loan - Up to 110% LVR (Owner Occupier)
1.99%
3.52%
$0
$0 p.a.
80%
Requires a family member to act as guarantor.
Get one of the lowest rates on the market with this fixed rate mortgage and borrow more with help from a family guarantor. NSW, QLD and ACT residents only.
Heritage Bank Advantage Package - 1 Year Fixed (Owner Occupier, P&I) New Customers Only
2.59%
3.32%
$0
$350 p.a.
95%
Get a partial offset account and flexible repayments with this package loan.
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier, IO)
2.29%
2.47%
$395
$0 p.a.
80%
A one year fixed rate offer with no ongoing bank fees.
Virgin Money Reward Me Variable Home Loan - LVR ≤ 80% ($500k to $750k Owner Occupier, P&I)
2.69%
2.86%
$300
$10 monthly ($120 p.a.)
80%
This flexible, competitive variable rate mortgage comes with a 100% offset account and redraw facility.
UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier, P&I)
2.14%
2.41%
$395
$0 p.a.
80%
A competitive fixed interest rate loan with no ongoing fees. Requires a 20% deposit.
Athena Variable Home Loan - Owner Occupier, IO (*now 3.09%, drops to 3.04% on 30 Sep)
3.04%
2.68%
$0
$0 p.a.
80%
Owner occupiers can refinance to one of the most competitive interest-only rates in the market. No application fee and no ongoing fees. This rate will drop to 3.04% p.a on 30 September 2020 for new and existing customers. You can get this rate if you apply today.
ME Basic Home Loan - LVR ≤80% $150,000 or more (Owner Occupier, P&I)
2.58%
2.60%
$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.
Suncorp Home Package Plus Fixed - 2 Year Fixed Rate Special Offer $150k+ LVR ≤90% (Owner Occupier, P&I)
2.29%
3.28%
$0
$375 p.a.
90%
A low fixed rate loan available for borrowers with 10% deposits. Refinance to an eligible Suncorp loan and get a cashback of $2,000 or $3,000, depending on your loan amount. Other conditions apply.
UBank UHomeLoan - 1 Year Fixed Rate (Investor, IO)
2.44%
2.85%
$395
$0 p.a.
80%
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer Discount 1 ($150k+ Owner Occupier, P&I)
2.94%
3.34%
$0
$395 p.a.
95%
$2,000 refinance cashback
New borrowers or refinancers can get a discounted rate with this package loan. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
Virgin Money Reward Me Fixed Rate Home Loan - 3 Year $300k+ Special offer (Owner Occupier, P&I)
2.29%
2.83%
$300
$10 monthly ($120 p.a.)
80%
A competitive fixed rate mortgage available with a 10% deposit.
UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier, IO)
2.29%
2.44%
$395
$0 p.a.
80%
A competitive 3 year fixed rate with no ongoing bank fees.
ME Flexible Home Loan Fixed - 2 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
2.34%
3.98%
$0
$0 p.a.
80%
Get a low fixed rate and pay no application or ongoing fees.
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier, P&I)
2.54%
3.98%
$595
$0 p.a.
95%
$2,000 refinance cashback
Borrow up to 95% LVR of the value of the property you're buying and pay no ongoing fees. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
Virgin Money Reward Me Variable Home Loan - LVR ≤ 80% ($750k+ Owner Occupier, P&I)
2.69%
2.86%
$300
$10 monthly ($120 p.a.)
80%
Get this loan with a 20% deposit and access a 100% offset account to save on interest.
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