No rate cuts from niche lenders
Lenders who are no longer marketing new loans may not reduce interest rates for current customers. GMAC-RFC, which advanced loans through Capital First, and Macquarie Securitisation, which advanced loans through Aussie, Vigin Money and other lenders, are refusing to commit to a rate cut. The RBA cut the cash rate earlier this week and most home loan providers announced rate cuts of 25 basis points.
Source: The Australia Financial Review