All of September’s out-of-cycle rate changes
Has your lender moved on rates outside of the RBA? Find out here.
It's looking like the Reserve Bank will remain content to sit on its hands for the duration of the year, with another rate hold this week. In spite of this, the home loan market has been far from static. Last month, 14 lenders in the finder.com.au database changed their rates. The steepest hike was 40 basis points, while the deepest cut was 30 basis points.
Moves like these could make a big difference to your monthly repayments. On a 30-year home loan of $500,000 at 4.5%, a 40 basis point hike would leave you $120.20 per month worse off, while a 30 basis point cut would save you $88.34 per month. Those savings might not sound like much, but they amount to $31,802.65 in interest payments over the life of your loan.
Check out our tables below to see which lenders have moved on rates. If your lender has raised rates, you might be able to find a better deal.
Major bank changes
| Lender | Change | Loans affected | Date effective |
|---|---|---|---|
| Lender | Change | Loans affected | Date effective |
|---|---|---|---|
Other lenders
| Lender | Change | Loans affected | Date effective |
|---|---|---|---|
| IMB | Up 0.15% - 0.17% | Essentials Home Loan - LVR <=70% (investor), Platinum Package - $500,000 LVR <=70%, $150k+ LVR <=70% (investor) | 20 Sep |
| IMB | Up 0.30% | Essential Home Loan - LVR <=70 and <=90% (Owner occupier + Investor) | 29 Sep |
| Homeloans | Up 0.02 - 0.05% | Ultra Plus $200k+ LVR <80% (owner occupier + investor, principal and interest only) | 18 Sep |
| ME | Down 0.20% | ME Flexible Home Loan With Member Package (investor) | 5 Sep |
| QTMB | Down 0.04% | Mortgage Saver Home Loan Special | 21 Sep |
| Virgin Money | Down 0.5 - 0.10 | Virgin Reward Me Variable Home Loan - LVR <= 80% ($500k to $750k and $750k+ Investor, P&I) | 25 Sep |
| Lender | Change | Loans affected | Date effective |
|---|---|---|---|
| CUA | Down 0.10%-.20% | Fixed Rate Home Loan - 1, 2, 3, 5 Years Fixed (investor), Premium Fixed Rate Home Loan - 1, 2, 3, 5 Years Fixed(investor) | 19 Sep |
| IMB | Down 0.10% | Fixed Rate Home Loan - 3, 4, 5 Years Fixed, Platinum Package Fixed - 2, 3, 5 Years Fixed (owner occupier) | 15 Sep |
| IMB | Up 0.15% | Fixed Rate Home Loan - 1, 3, 5 Years LVR <=70% (investor), Platinum Package Fixed Rate Home Loan - 1, 3, 5 Years Fixed LVR <=70% (investor) | 19 Sep |
| IMB | Up 0.30% | IMB Fixed Rate Home Loan - 1, 2, 3, 4, 5, Years LVR < 90% Owner occupier | 29 Sep |
| ME | Up 0.10% | Flexible Home Loan - 2 Year Fixed Rate (owner occupier), Flexible Home Loan Fixed with Members Package - 2 Year Fixed Rate (owner occupier) | 27 Sep |
| Newcastle Permanent Building Society | Down 0.10%- 0.15% | Fixed Rate Home Loan - 1 , 2, 3, 4, 5, Years Fixed Standard (owner occupier principal and interest - interest only) | 18 Sep |
| Virgin Money | Down 0.10% - 0.20% | Fixed Rate Home Loan - 2, 3, 4, 5 Years Fixed (owner occupier + investor) | 19 Sep |
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