Crazy RBA home loan rate cuts continue

Mozo

12 Aug 2019

redactor/hero-images/885/RBA_article_image_content_content.jpg

It’s been over a month since the Reserve Bank lowered the official cash rate to 1.00%, but the crazy home loan rate cuts just keep on coming.

Online lenders loans.com.au, Tic:Toc and UBank are amongst the latest to slash variable rates again, offering potential savings of tens of thousands of dollars for borrowers who are prepared to compare and switch. Fixed rates are also plunging, with UBank and BoQ amongst a handful of lenders now offering fixed rates with a '2' in front.

So if you’ve been holding out for the right home loan, here are some of the top variable and fixed rate loans currently on the market to get your search off to a smashing start.

LOW RATE HOME LOAN COMPARISONS - rates updated daily

  • Promoted

    loans.com.au

    3.03% p.a. variable

    3.05% p.a.

    $1234

    Product details Close details
    Go to site
    Smart Home Loan

    A low-rate home loan that could save you thousands. No application or ongoing fees. Unlimited additional repayments. Unlimited free redraws with no minimum redraw amount, Limited time only.

    • 3.03% p.a. variable

    • 3.05% p.a.

    • $520

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • 80.00%

    • $50,000

    • $1,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Smart Home Loan

    Go to site

  • Promoted

    UBank

    3.09% p.a. variable

    3.09% p.a.

    $1234

    Product details Close details
    Go to site
    UHomeLoan - Discount Offer

    One of Australia's leading digital banks. Easy & fast to apply. Free redraw with flexible repayments. Min. 20% deposit required. Low rate and no bank fees (on variable loans). Winner of a Mozo Experts Choice Award 2019 in the Low Cost Home Loan category.^

    • 3.09% p.a. variable

    • 3.09% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • 80.00%

    • $200,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the UHomeLoan - Discount Offer

    Go to site

  • Featured Product

    Athena

    3.09% p.a. variable

    3.05% p.a.

    $1234

    Product details Close details
    Go to site
    Variable Home Loan

    Low rates, no fees, and automatic rate match. New-comer Athena wants you to love them and leave them. Refinance only. Minimum 20% deposit.

    • 3.09% p.a. variable

    • 3.05% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • 80.00%

    • $100,000

    • $2,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Variable Home Loan

    Go to site

  • Featured Product

    ME

    3.39% p.a. variable

    3.83% p.a.

    $1234

    Product details Close details
    Go to site
    Flexible Home Loan Member Package

    A flexible Home Loan with Member Package for Owner Occupiers including a low rate, redraw and offset. Annual fee $395.

    • 3.39% p.a. variable

    • 3.83% p.a.

    • $200

    • $395.00 yearly

    • $350.00

    • yes - free

    • yes - free

    • yes

    • 80.00%

    • $400,000

    • $699,999

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Flexible Home Loan

    Go to site

  • Promoted

    Suncorp

    3.29% p.a. variable

    3.30% p.a.

    $1234

    Product details Close details
    Go to site
    Back to Basics Special

    No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more. Only 10% deposit required. $1500 cashback offer for refinancers of eligible loans more than $250,000 with LVR less than 80%.

    • 3.29% p.a. variable

    • 3.30% p.a.

    • $0

    • $0.00

    • $350.00

    • Yes - free

    • first redraw per month free

    • no

    • 90.00%

    • $150,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Receive $1,500 when you refinance an existing loan of $250,000 or more. Apply by 30 September 2019 and settle by 28 December 2019.

    Read our Mozo Review to learn more about the Back to Basics Special

    Go to site

  • Promoted

    Homestar

    2.99% p.a. variable

    3.02% p.a.

    $1234

    Product details Close details
    Go to site
    Star Essentials Home Loan

    One of the lowest home loan rate in town packed with essential features. No application or ongoing fees. Unlimited additional repayments with free online redraws. Min. loan size $150k, no construction loan.

    • 2.99% p.a. variable

    • 3.02% p.a.

    • $596

    • $0.00

    • $535.00

    • yes - free

    • yes - free

    • no

    • 80.00%

    • $150,000

    • $850,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Star Essentials Home Loan

    Go to site

  • Promoted

    HSBC

    3.27% p.a. variable

    3.28% p.a.

    $1234

    Product details Close details
    Go to site
    Discounted Home Value Loan

    Unlimited free extra repayments and no ongoing service fees when you apply by 31 July (T&C’s apply). Get help with the application process with an HSBC relationship manager. Winner of a Mozo Experts Choice Award 2019 in the Low Cost Home Loan category.^

    • 3.27% p.a. variable

    • 3.28% p.a.

    • $150

    • $0.00

    • $300.00

    • yes - free

    • yes - free online

    • no

    • 90.00%

    • $50,000

    • $7,500,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Discounted Home Value Loan

    Go to site

  • Promoted

    Hot Deal Earn 300,000 bonus Qantas Points when you apply by 31 August

    ANZ

    3.38% p.a. variable

    3.42% p.a.

    $1234

    Product details Close details
    Go to site
    Simplicity PLUS Special Offer LVR <80%

    Competitive low rate. No upfront or monthly fees. Flexibility to make extra repayments and redraw. Plus, score 300,000 bonus Qantas Points when you apply for a home loan over $300,000 by 31 August 2019, and settle by 31 Jan 2020. Minimum 20% deposit required.

    • 3.38% p.a. variable

    • 3.42% p.a.

    • $0

    • $0.00

    • $160.00

    • yes - free

    • yes

    • no

    • 80.00%

    • $50,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Apply for a home loan over $300,000 by 31 August 2019, and settle by 31 Jan 2020 to earn 300,000 Qantas Points.

    Read our Mozo Review to learn more about the Simplicity PLUS Special Offer LVR <80%

    Go to site

  • Promoted

    Well Home Loans

    2.97% p.a. variable

    2.99% p.a.

    $1234

    Product details Close details
    Go to site
    Well Balanced

    Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed. Best New Home Loan in Mozo Experts Choice Awards 2019.^

    • 2.97% p.a. variable

    • 2.99% p.a.

    • $785

    • $0.00

    • $300.00

    • yes - free

    • yes - free

    • Optional - $10 per month

    • 80.00%

    • $200,000

    • $2,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Well Balanced

    Go to site

  • Promoted

    Bank of Queensland

    2.99% p.a.
    fixed 3 years

    4.09% p.a.

    $1234

    Product details Close details
    3 Year Discount Fixed Rate

    $1,000 cashback for first home buyers. Apply by 31 August 2019. Minimum loan amount of $300k. 20% deposit needed. Free additional repayments up to $5,000 per year.

    • 2.99% p.a.
      fixed 3 years

    • 4.09% p.a.

    • $450

    • $10.00 monthly

    • $320.00

    • yes - free up to $5,000 p.a

    • no

    • no

    • 80.00%

    • $300,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the 3 Year Discount Fixed Rate

*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 the amount and term you entered.

**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. 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.

Mozo may receive advertising fees from the financial institutions, issuers of financial or credit products and third party advice providers that are shown on this page. These fees are based on a cost per click, cost per acquisition, or a fixed fee.

Refinance rush as lenders slash rates to crazy levels

RBA cuts - three things you should've done by now!

Tell me more

New way to borrow takes Australia by storm

Westpac research reveals Aussies are more optimistic about the property market

Tell me more

How to prepare for spring property season

Australia’s cheapest home loans unveiled

Tell me more

Crush your mortgage in 2019 with these top value home loans

New way to borrow takes Australia by storm

Tell me more

Hate long waits? You’ll love this. Bankwest slashes home loan application times