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Lenders adjust fixed home loan interest rates

Mark Bristow avatar
Mark Bristow
- 2 min read
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Several Australian banks have adjusted their home loan interest rates this week, with some lenders lowering their fixed rates, while others increased theirs.

St.George this week reduced some of its fixed interest rates, including the 2 Year Owner Occupier Principal & Interest home loan, which went down by 0.06% p.a., as well as the 2 Year Residential Investment Principal & Interest, whose rate was reduced by 0.10% p.a.

St.George fixed rates that increased  by 0.10% each included the 5 Year Residential Investment Interest Only, as well as the 5 Year Portfolio Loan.

LoanNew interest rateNew comparison rateOld interest rateOld comparison rateChange
St.George Owner Occupier Standard Fixed Rate 2 Year (Principal & Interest)3.84%5.24%3.90%5.25%-0.06%
St.George Residential Investment Standard Fixed Rate 2 Year (Principal & Interest)4.04%5.72%4.14%5.74%-0.10%
St.George Residential Investment Standard Fixed Rate 5 Year (Interest Only)5.14%6.05%5.04%6.01%+0.10%

AMP also adjusted the fixed interest rates on its professional package investment loans, with the largest decrease being by -0.75% over three years.

LoanNew interest rateNew comparison rateOld interest rateOld comparison rateChange
AMP Professional Package Investment Loan Fixed (Interest Only) 2 Years4.17%5.35%4.77%5.46%-0.6%
AMP Professional Package Investment Loan Fixed (Interest Only) 3 Years4.19%5.24%4.49%5.32%-0.3%
AMP Professional Package Investment Loan Fixed (Principal and Interest) 2 Years3.99%5.32%4.57%5.43%-0.58%
AMP Professional Package Investment Loan Fixed (Principal and Interest) 3 Years4.12%5.23%4.87%5.43%-0.75%

These adjustments to fixed interest rates follow several changes to variable interest rates earlier in the month, with Macquarie Bank, ME Bank and ING raising some of their variable rates, while Heritage Bank lowered some of its variable rates for investors.

Disclaimer

This article is over two years old, last updated on February 14, 2019. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.

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This article was reviewed by Property & Personal Finance Writer Nick Bendel before it was published as part of RateCity's Fact Check process.

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