RBA Rate Cut: These Lenders Slashed Mortgage Rates First
The RBA rate cut is here. This is good news for many Australian homeowners. But some lenders acted faster than others. A few dropped their rates right away. This saved their customers money almost immediately.
Other lenders were much slower. So, which lenders were the fastest? Let’s find out.
The Fast Movers
Three key lenders were quick to act. They were Macquarie, Unloan, and Athena.
- CommBank’s Unloan: This lender dropped its rates right after the RBA news. It cut rates by the full 0.25%. Its rates for some home loans now start as low as 5.24% p.a.
- Macquarie Bank: Macquarie was fast, too. It announced its rate drop and passed it on just three days later. The bank said it wants to be different. It wants to give customers their savings sooner. Their home loan rates now start at 5.39% p.a.
- Athena: This lender always moves fast. It cut rates for both new and old customers on the same day as the RBA’s announcement.
Why Speed Matters
The major banks often take longer to pass on a rate cut. This delay costs homeowners money. For example, some banks took weeks to pass on a rate change in the past. If you are waiting on your bank, it is like you are giving them extra money.
This is why a mortgage broker is so helpful. We know which lenders are quick to act. We can help you find a loan that is right for you. We can even check if your current loan is the best one.
What You Should Do Now
Don’t wait for your bank. You have options. You might want to refinance to a better rate. Refinancing can save you a lot of money over time. To learn more, read our article about mortgage refinance australia.
You can also ask us for a home loan health check. It is a great way to see if you can get a better deal. We can help you with this for free.
Contact EZ Mortgage Broker today. We can help you find a great rate.
- Phone: 1300 050 099 or 044789007
- Email: [email protected]
Important Information: Mortgage Broker Online Pty Ltd, ABN: 28 657 661 615, Credit Rep Number 538522. AFG Accredited Member (AFG Australian Credit Licence: 389087).
