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

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can compare more home loans here.
Last updated 27 July 2024 Important disclosures and comparison rate warning*

  • Optimum Fixed Rate Home Loan

    • Owner Occupier
    • Principal & Interest
    Interest rate
    5.69 % p.a.
    Fixed 3 years
    Comparison rate
    6.34 % p.a.
    Initial monthly repayment
    $2,899
    Go to site

    Lock in a competitive interest rate and enjoy peace of mind for the fixed period. Available for owner occupied new and refinanced home loans with at least 20% deposit. Split option available as well as offset and redraw. Noapplication, ongoing or banking fees. Third Party fees may be applicable - payable within loan repayments. Extra repayments up to $20K per annum permitted. Apply online, 100% member owned credit union.

  • Flex Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    5.99 % p.a.
    Fixed 3 years
    Comparison rate
    6.34 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

  • Basic Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR<70%
    Interest rate
    6.25 % p.a.
    Fixed 3 years
    Comparison rate
    6.20 % p.a.
    Initial monthly repayment
    $3,079
    Go to site

    No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $10,000,000.

  • Offset Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR <70%
    Interest rate
    6.25 % p.a.
    Fixed 3 years
    Comparison rate
    6.42 % p.a.
    Initial monthly repayment
    $3,079
    Go to site

  • Fixed Rate

    • Owner Occupier
    • Principal & Interest
    • <80% LVR
    Interest rate
    6.54 % p.a.
    Fixed 2 years
    Comparison rate
    7.10 % p.a.
    Initial monthly repayment
    $3,174

    Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.

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