MEDIA RELEASE 15 September 2019 There are now ninety-seven – 97 – home loans with advertised rates under 3 per cent pa, including 96 for owner-occupiers, and just one for investors, on the InfoChoice database of 145 institutions. “Every week more lenders change their rates and offer headline rates under three per cent,” said Vadim Taube, CEO of leading Australian financial comparison site, InfoChoice.com.au. “Lenders are not waiting to see what the RBA will do with rates, the rate cuts are coming pretty thick and fast now. Market expectations of a rate cut in October are falling away. Traders have now priced in a 25 per cent chance of a cut by the RBA to 0.75 per cent. There are now six variable rate home loans with advertised rates under 3 per cent from three non-bank lenders Reduce Home Loans, Well Home Loans and Mortgage House. The highest comparison rate among these loans is 3.02 per cent pa from Mortgage House. There are thirteen 12-month fixed home loans products with advertised rates under 3 per cent for owner-occupiers. Comparison rates on these loans range up to 4.62 per cent pa from UniBank. The lowest rates for investors on a 12-month fixed rate is 3.09 per cent pa from St George Bank (comparison rate 4.86 per cent pa). For investors, the only fixed rate mortgage under 3 per cent on the InfoChoice database, across all terms from 12 months to 5 years, is Bank Australia’s Premium Package two-year ($150K – $700K, LVR=70% – 90%) Loan at 2.99 per cent pa (comparison rate 3.75 per cent pa). There are 25 home loans under 3 per cent with two-year fixed terms and 31 three-year fixed rate home loans for owner-occupiers. There are eight 4-years fixed home loans with advertised rates under 3 per cent and 13 five -year loans on the InfoChoice database. For more information on Savings account rates, data and commentary, please contact: Jason Bryce, Media Manager on 0428 777 727 email@example.com For more comments, please contact: Vadim Taube, Chief Executive on 0403 580 794 Keep up to date with the latest RBA rates outlook at InfoChoice. * InfoChoice compares financial products from 145 banks, credit unions and other financial institutions in Australia. InfoChoice does not compare every product in the market. Some institutions may have a commercial partnership with InfoChoice. Rates are provided by partners and taken from financial institutions websites. We believe all information to be accurate on the date published. InfoChoice strives to update and keep information as accurate as possible. ** Comparison rate is based on a secured loan of $150,000 over the term of 25 years. WARNING: These comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan ***Excludes accounts with introductory honeymoon maximum bonus rates, notice saver accounts and accounts that are not generally available to all Australian residents InfoChoice is a leading Australian comparison website for retail banking and personal finance products. We’ve been helping Aussies find great offers on credit cards, home loans, savings accounts, term deposits, personal loans and car loans for over 25 years. Our mission is to help consumers make an informed purchasing by bringing together the most comprehensive list of financial products on the market today. At InfoChoice, we strive to be: • Comprehensive. We compare more than 3500 individual products from 145 providers within Australia to offer you the best value. • Informative. We know how important it is for you to crunch the numbers before buying. Our calculators help you understand the cost of different products over the long term and show you the potential savings.