Here are all the mortgage lenders passing on the latest RBA cash rate cut

Posted: 2 July 2019 3:33 pm
News

Stacks of coins on a blue and white photographic background.

Lenders big and small are dropping variable home loans as the cash rate falls to 1.00%.

This page contains rate cuts for July 2019. Head to this page to see which lenders are passing on the latest RBA cut (October 2019)

The Reserve Bank of Australia has once again cut the cash rate. This means home loan rate cuts, and in the last month, at least 23 lenders have cut their variable mortgage rates.

Here's a list of the lenders who have said they will pass on part or all of the 0.25% rate cut, the date the cut will take effect and their lowest variable owner-occupier home loan. Keep in mind that a lender's lowest variable rate offer might not currently be on the market if the lender is cutting the rate a week or two from now.

Loyalty to your lender could be costing you thousands

We will continue to update this table as more lenders announce their responses to the cash rate cut.

Who is cutting rates?

Lender Cut (basis points) Effective date Lowest variable offer
Athena Home Loans -0.25 July 02 3.09%
Reduce Home Loans -0.22 July 02 2.89%
Homestar -0.25 July 02 2.99%
Macquarie Bank -0.40 July 05 3.19%
Tic:Toc -0.65 July 05 2.99%
CUA -0.17 July 10 3.33%
RACQ -0.25 July 10 3.19%
ANZ -0.25 July 12 3.38%
NAB -0.19 July 12 3.35%
Westpac -0.20 July 16 3.58%
St.George -0.20 July 16 3.38%
Bank of Melbourne -0.20 July 16 3.34%
Bank SA -0.20 July 16 3.39%
ING -0.20 July 18 3.14%
Heritage Bank -0.15 July 18 3.42%
The Mutual Bank -0.20 July 19 3.38%
HSBC -0.20 July 22 3.27%
AMP -0.20 July 22 3.29%
Citbank -0.18 July 23 3.21%
Commonwealth Bank -0.19 July 23 3.35%
ME Bank -0.15 July 23 3.39%
Bank of Queensland -0.15 July 23 3.39%
Virgin Money -0.15 July 23 3.29%
State Custodians -0.25 July 24 3.15%
loans.com.au -0.25 July 26 2.78%
Resimac -0.25 July 26 3.21%
Greater Bank -0.25 July 29 3.85%
Newcastle Permanent -0.25 July 29 3.24%
Bendigo Bank -0.20 July 29 3.29%
Auswide -0.18 July 30 3.51%
UBank -0.25 August 02 3.09%

*This table will be updated as more rate cuts are announced. Cuts are for variable owner-occupier rates only and won't necessarily affect all of a lender's products. Rates in the lowest offers column may not be available until the effective date.

Lenders are not obligated to pass on the rate cut to borrowers. And if you're on a fixed rate mortgage, then this news won't affect your home loan at all. But if you have a mortgage, here's what you should do regardless of your situation:

  1. Check your current interest rate. If you're on a variable rate, you might be surprised to see that it has changed since you last checked.
  2. Compare your rate against other offers on the market. Rates change all the time and the mortgage market is very competitive. As a comparison site, we're obviously going to say this but it's still true: compare, compare, compare.
  3. If you find a better mortgage offer, then you should consider switching to this product by refinancing your loan. There's absolutely no point being loyal to your lender if they're not giving you the best deal.

If you don't want to go through the application process that refinancing requires, you could also ask your lender to lower your interest rate. It's possible to negotiate with your lender, and the worst that will happen is they'll say no. In which case, you should look at refinancing.

Compare some competitive offers and switch

Rates last updated October 23rd, 2019
$
% p.a.
Offset account
Split account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Maximum Insured LVR Amount Saved Short Description
3.02%
3.04%
$0
$0 p.a.
90%
Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online. Available with just a 10% deposit.
2.84%
2.80%
$0
$0 p.a.
80%
Owner occupiers looking to refinance can get one of the lowest rates in the market with this variable rate mortgage. $0 application fee and $0 ongoing fees. Refinancers only.
2.84%
2.84%
$0
$0 p.a.
80%
This rate will drop to 2.84% p.a on 29 October 2019 for new and existing customers. Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
3.03%
3.04%
$0
$0 p.a.
90%
Get one free online redraw per month and pay no ongoing fees. Application fees are waived for loans above $150,000.
2.99%
3.45%
$0
$10 monthly ($120 p.a.)
90%
Buy your home and lock in a low rate for the first two years. Available with a 10% deposit. Earn Velocity Frequent Flyer Points at settlement, monthly and every three years, plus extra bonus points for a limited time.

Compare up to 4 providers

Aussie Home Loans Logo

Start your home loan application with expert help from Aussie.

By submitting this form, you agree to the Finder Privacy and Cookies Policy and Terms of Use

Applications are subject to approval. Conditions, fees and charges apply. Please note that you need to be an Australian citizen or permanent resident to apply.

Credit services for Aussie Select, Aussie Activate and Aussie Elevate products are provided by AHL Investments Pty Ltd ACN 105 265 861 (“Aussie”) and its appointed credit representatives, Australian Credit Licence 246786. Credit for Aussie Select products is provided by Residential Mortgage Group Pty Ltd ACN 152 378 133, Australian Credit Licence 414133 (“RMG”). RMG is a wholly-owned subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian Credit Licence 234945. Credit for Aussie Activate products is provided by Pepper Finance Corporation Limited ACN 094 317 647 (“Pepper”). Pepper Group Limited ACN 094 317 665, Australian Credit Licence 286655 acts on behalf of Pepper. Credit services for Aussie Elevate products are provided by AHL Investments Pty Ltd ACN 105 265 861 Australian Credit Licence 246786 (“Aussie”) and its appointed credit representatives. Aussie is a trade mark of AHL Investments Pty Ltd ABN 27 105 265 861. Credit and any applicable offset accounts for Aussie Elevate are issued by Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL / Australian Credit Licence 237879.

Aussie is a trade mark of AHL Investments Pty Ltd. Aussie is a subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124. ©2018 AHL Investments Pty Ltd ABN 27 105 265 861 Australian Credit Licence 246786.

By submitting this form, you agree to the Aussie privacy policy.

An Aussie mortgage broker can find the right home loan for you.

  • FREE Suburb and Property Report with every appointment.
  • Access 3,000+ loans from over 20 lenders.
  • Get expert help with your loan application, including paperwork and eligibility.

Aussie Home Loans Lender Logos

The Adviser’s number 1 placed mortgage broker 7 years running (2013-2019)

Latest home loans headlines

Get more from Finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site