ANZ the last of the Big 4 to slash fixed rates

By Niko Iliakis ·

Today, ANZ slashed rates across a range of its fixed rate home loans, making it the latest in a long list of lenders to make cuts.

With the Commonwealth Bank, NAB and Westpac all having made cuts of their own last month, it was only a matter of time before ANZ followed suit.

The cuts range from 20 to 60 basis points, and apply to both owner occupier and investor loans.

ANZ Owner occupier home loan rate changes

ProductOld rateChangeNew rate
ANZ 3 Year Fixed Home Loan (P&I)3.99%-0.30%3.69% (4.94% comparison rate*)
ANZ 5 Year Fixed Home Loan (P&I)4.19%-0.20%3.99% (4.89% comparison rate*)
ANZ 2 Year Fixed Home Loan (Interest Only)4.49%-0.20%4.29% (5.13% comparison rate*)
ANZ 3 Year Fixed Home Loan (Interest Only)4.59%-0.60%3.99% (5.00% comparison rate*)
ANZ 5 Year Fixed Home Loan (Interest Only)5.09%-0.59%4.50% (5.07% comparison rate*)

Cuts to investment loans range from 6 to 30 basis points. Interest rates for a 3 year investor loan (principal and interest) now sit at 3.99% p.a. (5.44% p.a. comparison rate*) following a 20 basis point cut.

This follows Tuesday’s announcement that the RBA would hold the cash rate steady for another month. Anticipation of an upcoming cut is now stronger than ever, and we’re seeing many banks already pricing the decision into their interest rates.

Along with ANZ, Macquarie also made changes across its fixed rate sheet today. Its Basic Home Loan, available for owner occupiers paying principal and interest, saw cuts of between 10 and 15 basis points.

Owner occupiers looking to lock in a one year term will now be able to take advantage of a low 3.59% p.a. interest rate (3.69% p.a. comparison rate*).

This week also saw sizeable cuts from RAMS. Rates for its Fixed Rate Home Loan, available for owner occupiers paying principal and interest, dropped by between 10 and 40 basis points. Its two year fixed rate option now sits at 3.59% p.a. (5.36% p.a. comparison rate*).

So if you’ve been on the market for a home loan, the latest batch of cuts might have you feeling optimistic. Before you make your next move, be sure to check out our fixed rate home loan comparison page, or check out some quality options below.

Home loan comparisons on Mozo - rates updated daily

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  • placeholder
    Special Offer Fixed Rate Home Loan

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    1.99% p.a.
    fixed 3 years
    2.70% p.a.

    Limited time 3 Year Fixed Rate Special Offer for purchase or refinance. Rate lock option available. No monthly or ongoing fees.

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    Details
  • placeholder
    UHomeLoan

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    1.75% p.a.
    fixed 3 years
    2.22% p.a.

    $0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.

    Go to site
    Details
  • placeholder
    Basic Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR<70%

    interest rate
    comparison rate
    Initial monthly repayment
    2.09% p.a.
    fixed 3 years
    2.43% p.a.

    Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.

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    Details
  • placeholder
    Special Fixed Rate Home Loan

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    1.89% p.a.
    fixed 2 years
    3.67% p.a.

    Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Enjoy local branches and call centre.

    Go to site
    Details
  • placeholder
    Fixed Rate Home Loan

    Owner Occupier, Principal & Interest, LVR <80%

    interest rate
    comparison rate
    Initial monthly repayment
    1.88% p.a.
    fixed 2 years
    2.86% p.a.

    Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Refinancers borrowing $250,000 or more will receive $3288 (T&Cs, eligibility and lending criteria apply).

    Go to site
    Details

*WARNING: This comparison rate applies 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 cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

**Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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