Home / Home Loans / Lenders announce variable rate cuts

Lenders announce variable rate cuts

03/11/2011

A number of lenders announced interest rate changes yesterday in the wake of Tuesday’s RBA rate cut of 0.25 per cent.

ING Direct, Suncorp, Bankwest, AMP Bank, Gateway Credit Union and Teachers Credit Union all announced that they would reduce rates on their variable rate home loans by 25 basis points, effective within the next week or two.

ING Direct's Mortgage Simplifier rate falls to 6.87 per cent. AMP's standard variable rate falls to 7.57 per cent and its Essential Home Loan rate falls to 6.6 per cent. Bankwest's standard variable rate will fall to 7.45 per cent.

Suncorp cut its standard variable rate on home loans from 7.83 per cent to 7.58 per cent. It is maintaining its 103 basis point discount for customers who take the Suncorp "Bank My Home" package, offering a package rate of 6.55 per cent.

Source: Banking Day



Previous Article  Next Article


Popular Mortgages $250k

 



Popular Searches


Today's Best Rates

Institution Product Title Rate (%) Details
UHomeLoan - Refinance only (incl 0.20%p.a lifetime Loyalty Discount) 5.83
Dream Loan Express 5.95
State Custodians Standard Variable Offset Loan 6.02
MyRate.com.au - Advantage Rate Loan 6.15
Member Package Ultimate Offset Account 6.19
Institution Product Title Rate (%) Details

Rates for a $250,000 standard loan. The 3 year tabs show loans that are fixed for 3 years.



SPONSORED LINKS