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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 Yellow ANZ Variable rate 6.60% 6.70% NA NA NA Yellow Aussie Optimizer Standard Variable 6.68% 6.90% 6.48% 10/12/2012 -0.20% Red Bank of Melbourne Standard Variable Rate 6.60% 6.77% 6.40% 17/12/2012 -0.20% Red Bank of Queensland Standard Variable Rate 6.71% 6.86% 6.51% 21/12/2012 -0.20% Red BankWest Mortgage Shredder 6.59% 6.64% NA NA NA Yellow Bendigo Bank Variable Rate Residential 6.71% 6.85% NA NA NA Yellow Citibank Standard Variable 6.89% 7.03% NA NA NA Yellow Commonwealth Bank Standard Variable Rate 6.60% 6.75% 6.40% 10/12/2012 -0.20 Red CUA Standard Variable Loan 6.205% 6.11% 5.85% 13/12/2012 -0.20% Red Greater Building Society Getaways Home Loan 6.25% 6.31% 6.05% 10/12/2012 -0.20% Red Homestar Advantage Loan 5.98% 5.99% NA NA NA Yellow HSBC Variable 6.65% 6.72% NA NA NA Yellow ING Direct Mortgage Simplifier 5.97% 5.99% 5.72% 24/12/2012 -0.25% Green ME Bank Standard Home Loan** 6.53% 6.55% 5.88% 17/12/2012 -0.20% Red Advantage Loan 5.92% 5.92% 5.63% 24/12/2012 -0.25 Green NAB Tailored home Loan 6.58% 6.67% 6.38% 10/12/2012 -0.20% Red RAMS RAMS Full Feature 6.55% 6.62% 3.35% 10/12/2012 -0.20% Red St George Standard Variable Rate 6.69% 6.86% 6.49% 17/12/2012 -0.20% Red State Custodians Standard Variable Offset (<75%) 5.54% 5.74% NA NA NA Yellow Suncorp Standard Variable Loan 6.69% 6.84% 6.49% 21/12/2012 -0.20% Red UBank UHomeLoan (refinance only) 5.57% 5.57% 5.37% 14/12/2012 -0.20% Red Westpac Rocket Repay Home Loan 6.71% 6.84% 6.51% 17/12/2012 -0.20 Red
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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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