Commbank & Macquarie cut fixed rate home loans

By Cameron Thomson · · 1 min read
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Fixed home loan borrowers

As the RBA held the cash rate at 4.10% for two months in a row, banks have made their own calls on which of their home loan products should be raised or cut. 

While fixed rate home loans were hiked by a number of banks last month, some of the same banks have cut rates this month. What’s more, some of the cuts are fairly substantial. 

Who cut fixed rate home loans?

Last week, Commbank, Macquarie, and Ubank cut fixed rate home loans. According to Mozo tool Marketview, Commbank cut its one year fixed rates by 15 basis points and its 3 year by 35 basis points. 

Ubank only cut rates for one of their home loan products. The 5 year term Own Home Loan for owner-occupiers (LVR <85%) was cut by 47 basis points. 

Meanwhile, Macquarie lowered a range of its fixed rate home loan products. For example, its Basic Home Loan for owner-occupiers (LVR 70-80%) was cut by 24 basis points for 1-5 year terms. The same product for investors (LVR 70-80%) was lowered by 26 basis points for a 1-3 year term and 24 basis points for 4 and 5 year terms. 

Knowing home loan interest rate movements can be a good way for borrowers to gauge where the market is at. Want to see how home loan products compare? Check out some of the fixed rate home loan products featured below…

Home loan comparisons on Mozo - last updated 20 May 2024

Search promoted home loans below or do a full Mozo database search. Advertiser disclosure
  • Mozo Expert Choice Badge
    Fixed Express Home Loan

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a.
    fixed 2 years
    6.14% p.a.

    Lock in a low 2 year fixed rate with the Mozo award winning Home Lender of the Year. Available for live-in borrowers with just a 10% deposit required. Free extra repayments (up to 20% in fixed period), free redraw and partial offset available. $10 monthly service fee.

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  • Basic Home Loan

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

    interest rate
    comparison rate
    Initial monthly repayment
    6.25% p.a.
    fixed 3 years
    6.20% p.a.

    No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.

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  • Mozo Expert Choice Badge
    Fixed Express Home Loan

    Owner Occupier, Interest Only

    interest rate
    comparison rate
    Initial monthly repayment
    6.49% p.a.
    fixed 2 years
    6.39% p.a.

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  • Flex Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR 70-80%

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a.
    fixed 3 years
    6.41% p.a.

    Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 20% deposit required.

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  • Fixed Rate Loan with Orange Advantage

    Orange Advantage, Owner Occupiers, Principal & Interest, LVR <80%

    interest rate
    comparison rate
    Initial monthly repayment
    6.09% p.a.
    fixed 2 years
    6.16% p.a.

    Know exactly what your repayments will be, and you can fix your rate for up to 5 years. No monthly, annual fee or transaction fees. Free additional repayments (less than $10,000 p.a.). Valid for loans of $50,000 up to $2,000,000.

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