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Suncorp, HSBC & Bankwest: who’s cut home loan rates so far?
Two days on from the Reserve Bank of Australia's decision to cut rates, and we've only seen a small group of lenders announce rate cuts.
As of October 3rd, just over 20 Australian lenders have announced plans to cut home loan interest rates.
- Has your lender announced rate cuts yet? Keep track of rate changes with our RateCity Rate Tracker.
State of play: which lenders have announced cuts to home loan rates
Lender | Rate cut for variable home loans (%) | Date effective |
ANZ | -0.14 | October 11th 2019 |
Athena Home Loans | -0.25 | October 1st 2019 |
Auswide Bank | -0.25 | October 3rd 2019 |
Bank of Melbourne | -0.15 | October 16th 2019 |
BankSA | -0.15 | October 16th 2019 |
Bankwest | -0.13 | October 16th 2019 |
Commonwealth Bank of Australia | -0.13 | October 22nd 2019 |
Freedom Lend | -0.25 | October 2nd 2019 |
Homestar Finance | -0.25 | October 1st 2019 |
HSBC | -0.15 | October 21st 2019 |
Macquarie Bank | -0.15 | October 17th 2019 |
ME Bank | -0.15 | October 24th 2019 |
NAB | -0.15 | October 11th 2019 |
P&N Bank | -0.16 | October 15th 2019 |
RACQ Bank | -0.15 | October 8th 2019 |
RAMS | -0.15 | October 16th 2019 |
Reduce Home Loans | -0.2 | October 1st 2019 |
St.George Bank | -0.15 | October 16th 2019 |
Suncorp Bank | -0.15 | October 18th 2019 |
UBank | -0.25 | October 29th 2019 |
Westpac | -0.15 | October 16th 2019 |
CommBank and NAB were the first of the Big Four Banks to announce cuts on Tuesday, reducing rates by 0.13 per cent and 0.15 per cent respectively
Wednesday Westpac and ANZ followed, dropping interest rates by less than the full 25 basis point cut the Reserve Bank of Australia (RBA) made.
Now the Big Four Banks have moved, it's expected that the other lenders will follow shortly.
Disclaimer
This article is over two years old, last updated on October 3, 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.
Has your lender announced rate cuts yet? Keep track of rate changes with our RateCity Rate Tracker
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