The home loan rate cuts keep coming …
Australia’s largest non-bank mortgage lender, Firstmac, will pass the full Reserve Bank 0.25 percentage point rate cut to its retail home loan customers, effective 23 May 2016. The cut will apply to all variable rate loans including owner occupier and investment loans.
Firstmac’s feature product is the Vital 80 home loan (for loans under 80 percent loan to valuation ratio) which now has a headline variable rate for owner-occupiers of 3.99 per cent (comarison rate 4.02 per cent).
Source: Banking Day