What?? One lender has cuts home loan rates by 1.5%

Non-bank lender Resimac has reduced variable mortgage rates by a total of 1.5 percentage points in 2015.

Resimac has just announced that it has passed on the Reserve Bank’s 0.25 percentage point May rate cut to retail mortgage borrowers.

Resimac also announced a special offer. Until 30 September 2015 there is an additional 0.60 percentage point rate cut across the entire Resimac product range.

Resimac’s Allan Savins said Resimac has “Some of our rates have reduced by 150 basis points since the beginning of 2015.”

Source: The Adviser