Lenders slash rates ahead of Reserve Bank decision

Aussie borrowers hoping to receive a rate cut when the Reserve Bank meets next Tuesday are in for some good news. Dozens of lenders have already started slashing variable and fixed home loan rates ahead of the RBA's decision, and there are some huge savings already on offer.

Online and rival lenders are leading the rate cut party, with the likes of loans.com.au, ING, Tic:Toc and Mortgage House all slashing rates in recent weeks. While the average home loan rate currently sits at 4.32%, borrowers who are prepared to switch can now access ultra low variable rates below 3.50%. Fixed rates are also dropping, meaning borrowers can lock in well below 4% for 2 or even 3 years.

So if you'd like to start saving on your home loan sooner rather than later, take at look at some of the most competitive rates on the market below. If you find yourself a better deal and the Reserve Bank does cut when it meets next Tuesday, you'll be a double winner.