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Home loan interest rates | Updated: 6:00:52 PM, Monday December 10, 2012 The RBA has given home owners a somewhat cautious Christmas present this December as the cash rate falls to 3 per cent. Most mortgage holders will naturally be very keen to see how much of the 25 basis point cut is passed on, particularly as the 4 big banks collect approximately $5.5 million for each day they hold out.
The table below shows which banks have passed on the interest rate cut, by how much and when the cuts will take effect. We also provide links to the various key packages we are using to track rate changes. We also provide a more comprehensive home loan comparison feature.
Home loan interest rates
Updated: 10/12/2012 (6:00PM).
Institution Package (click for more details) Old Interest rate p.a. Old Comparison rate* p.a. New rate p.a. Effective date Rate change Good or bad AMP Classic Variable Rate Loan 6.70% 6.87% NA NA NA ANZ Variable rate 6.60% 6.70% NA NA NA Aussie Optimizer Standard Variable 6.68% 6.90% 6.48% 10/12/2012 -0.20% Bank of Melbourne Standard Variable Rate 6.60% 6.77% 6.40% 17/12/2012 -0.20% Bank of Queensland Standard Variable Rate 6.71% 6.86% 6.51% 21/12/2012 -0.20% BankWest Mortgage Shredder 6.59% 6.64% NA NA NA Bendigo Bank Variable Rate Residential 6.71% 6.85% NA NA NA Citibank Standard Variable 6.89% 7.03% NA NA NA Commonwealth Bank Standard Variable Rate 6.60% 6.75% 6.40% 10/12/2012 -0.20 CUA Standard Variable Loan 6.205% 6.11% 5.85% 13/12/2012 -0.20% Greater Building Society Getaways Home Loan 6.25% 6.31% 6.05% 10/12/2012 -0.20% Homestar Advantage Loan 5.98% 5.99% NA NA NA HSBC Variable 6.65% 6.72% NA NA NA ING Direct Mortgage Simplifier 5.97% 5.99% 5.72% 24/12/2012 -0.25% ME Bank Standard Home Loan** 6.53% 6.55% 5.88% 17/12/2012 -0.20% MyRate.com.au Advantage Loan 5.92% 5.92% 5.63% 24/12/2012 -0.25 NAB Tailored home Loan 6.58% 6.67% 6.38% 10/12/2012 -0.20% RAMS RAMS Full Feature 6.55% 6.62% 3.35% 10/12/2012 -0.20% St George Standard Variable Rate 6.69% 6.86% 6.49% 17/12/2012 -0.20% State Custodians Standard Variable Offset (<75%) 5.54% 5.74% NA NA NA Suncorp Standard Variable Loan 6.69% 6.84% 6.49% 21/12/2012 -0.20% UBank UHomeLoan (refinance only) 5.57% 5.57% 5.37% 14/12/2012 -0.20% Westpac Rocket Repay Home Loan 6.71% 6.84% 6.51% 17/12/2012 -0.20
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* The comparison rate indicated is the rate published by the specific financial institution. For more details on how this rate is calculated please refer to the specific financial institution. ** Non Members. The views in this article are those of the author Matthew King and are not necessarily those of Telstra BigPond. Share this article |
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