ANZ the last of the Big 4 to slash fixed rates
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
| Product | Old rate | Change | New 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 - last updated January 21, 2021
Search promoted home loans below or do a full Mozo database search. Advertiser disclosure.
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1.99% p.a.
fixed 3 years2.70% p.a.
Special Offer Fixed Rate Home Loan
Owner Occupier, Principal & Interest
1.99% p.a.
fixed 3 years2.70% 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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1.95% p.a.
fixed 3 years2.27% p.a.
UHomeLoan
Owner Occupier, Principal & Interest
1.95% p.a.
fixed 3 years2.27% p.a.
$0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
Go to siteCompare2.04% p.a.
fixed 2 years2.79% p.a.
Special Offer Reward Me Fixed Rate Home Loan
Owner Occupier, LVR <80%, 300k+
2.04% p.a.
fixed 2 years2.79% p.a.
Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.
Go to siteCompare1.99% p.a.
fixed 3 years3.64% p.a.
Fixed Rate Home Loan
Owner Occupier, Principal & Interest, Home Loan Package
1.99% p.a.
fixed 3 years3.64% p.a.
A People’s Choice 3 year fixed home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate. There are no restrictions to the number of loans you can combine on a package. Lock in a competitive fixed interest rate with People’s Choice.
Go to siteCompare2.19% p.a.
fixed 3 years2.53% p.a.
Basic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR 70-80%
2.19% p.a.
fixed 3 years2.53% p.a.
Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.
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^See information about the Mozo Experts Choice Home Loans Awards
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