Home loan interest rate changes for May 2017

Adam Smith 3 May 2017 NEWS

may rate changeThe RBA may be sitting on the sidelines, but lenders certainly aren’t.

The RBA yesterday chose to leave the official cash rate on hold at 1.50%, a move predicted by all the experts in the finder.com.au Monthly RBA survey. Lenders are showing their independence, and are continuing to move on rates. Below, you can find a full list of the lenders who’ve moved out-of-cycle with the RBA in May. We’ll continue to update as more lenders announce.

Big four bank changes

Lender Change Loans affected Date effective
CBA Up 0.03% - 0.26 Variable Rate Home Loans (owner occupier + investor, principal and interest + interest only) 8 May

All other rate changes

LenderChangeLoans affectedDate effective
Bank of MelbourneUp 0.03% - 0.30%Variable Rate Home Loans (owner occupier + investor, principal and interest + interest only)8 May
BankSAUp 0.08% - 0.32%Variable Rate Home Loans (owner occupier, interest only), Variable Rate Home Loans (investor, principal and interest + interest only)8 May
BankwestDown 0.16%Equaliser Home Loan (owner occupier)18 May
CUAUp 0.01%Rate Breaker Package (owner occupier + investor)16 May
Heritage BankUp 0.10%Discount Variable (owner occupier + investor, new customer only), Standard Variable (owner occupier, new customer only), Advantage Package Standard Variable (owner occupier, new customer only), Bridging Loan (owner occupier + investor, new customer only)4 May
Heritage BankDown 0.05%Advantage Package Standard Variable (investor, new customer only)4 May
HSBCUp 0.10%Home Value Loan - variable (owner occupier)29 May
ING DirectDown 0.10%Orange Advantage - LVR <=80% (owner occupier), Mortgage Simplifier - LVR <=80% (owner occupier)5 May
Newcastle Permanent Building SocietyDown 0.10%Premium Plus Package New Customer (principal and interest + interest only)1 May
People's Choice Credit UnionUp 0.04% - 0.25%Home Loan Package - variable (special offer, investor), Basic Variable (owner occupier + investor), Standard Variable (owner occupier + investor)23 May
St. GeorgeUp 0.08% - 0.31%Variable Rate Home Loans (owner occupier, interest only), Variable Rate Home Loan (investor, principal and interest + interest only)8 May
LenderChangeLoans affectedDate effective
Bank of QueenslandDown 0.15% - 0.20%Fixed Rate Home Loan - 3 Years Discounted Rate (owner occupier + investor, principal and interest)25 May
MOVEDown 0.05%Lockit Home Loan - 3 Years Fixed12 May
Newcastle Permanent Building SocietyDown 0.10%Fixed Rate Home Loan - 4, 5 Years (owner occupier, principal and interest + interest only), Standard Fixed Rate - 4, 5 Years (owner occupier, principal and interest + interest only)1 May
Newcastle Permanent Building SocietyDown 0.10%Standard Fixed Rate - 1, 2, 3, 4, 5 Years Fixed (principal and interest + interest only), Special Fixed Rate - 1, 2, 3, 4, 5 Years Fixed (owner occupier, principal and interest + interest only)8 May
Newcastle Permanent Building SocietyDown 0.15%Standard Fixed Rate - 1, 2, 3, Years Fixed (principal and interest + interest only), Special Fixed Rate - 1, 2, 3, Years Fixed (owner occupier, principal and interest + interest only)22 May

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