Lenders Cut Home Loan Rates as RBA Move Filters Through
More and more lenders are cutting home loan rates. This is happening two weeks after the RBA’s August cut. NAB, Westpac, and Bendigo Bank have all lowered their rates. This is great news for you. Some of these cuts are as much as 0.41%. This shows that competition is strong among lenders.
The RBA lowered the cash rate by 0.25% to 3.60%. This is the third rate cut of the year.
NAB and Westpac
- NAB has cut rates by 0.25% on many loans. Their new low rate is 5.69% for some home buyers.
- Westpac also cut rates by 0.25%. Westpac’s new low rate is 5.34% for a popular refinancing loan. This move makes Westpac the last of the big four banks to pass on the rate cut.
Bendigo Bank
Bendigo Bank made some of the biggest cuts. They lowered home loan rates by up to 0.41%. This is much more than the RBA’s 0.25% cut.
Other Lenders Who Cut Rates
Many other lenders also cut their rates.
- Great Southern Bank cut rates by up to 0.35%.
- ING cut rates by 0.25%.
- HSBC and Bank of us cut rates by up to 0.30%.
This is a great time to check your home loan. You can read more about other lenders in our article RBA Rate Cut: Which Lenders Slashed Mortgage Rates First?.
Ready to Save?
Don’t miss out on savings. Let an EZ Mortgage Broker help you find a great rate. We can help you with a mortgage refinance australia and find a better deal.
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