MOVE Bank chops the rates on more than half of its home loans
Thursday 22 August 2019
Rate cut alert! MOVE Bank has taken the axe to more than half of its home loans. The lender dropped interest rates on a whopping total of nine owner-occupier and investment home loans, some by as much as 0.60% p.a.
These MOVE Bank home loan rate drops are on top of MOVE’s previous reductions back in July and August following the two RBA cash rate cuts, might we add.
“After two consecutive months of RBA cash rate reductions, we have seen significant levels of interest rate movement within the home loan market,” said MOVE Bank CEO, Therese Turner.
“Once the market settled, we reviewed our rates again and saw there was an opportunity to re-establish our position as a market leader with our award-winning home loans,” said Turner.
MOVE Bank is now one of the few lenders who haven’t made any out of cycle increases to their variable owner-occupier home loans interest rates in the past year.
MOVE Bank’s new home loan interest rates are available now for new loans and as of 1 September 2019 for existing product holders. The new rates come in at:
- Ultra-Low Lockit 3-year Fixed Home Loan: 2.98% p.a. fixed (4.06% comparison rate*)
- Straightforward Home Loan: 3.09% p.a. variable (3.12% comparison rate*)
- First Home Loan (1 Year Intro Rate): 3.19% p.a. fixed (3.68% comparison rate*)
- Flexi Fixed Rate Home Loan (1 Year): 3.19% p.a. fixed (4.32% comparison rate*)
- Flexi Fixed Rate Home Loan (2 Year): 3.29% p.a. fixed (4.23% comparison rate*)
- Flexi Fixed Rate Home Loan (3 Year): 3.39% p.a. fixed (4.17% comparison rate*)
- Investment Lockit Home Loan (1 Year): 3.19% p.a. fixed (4.90% comparison rate*)
- Investment Lockit Home Loan (3 Year): 3.39% p.a. fixed (4.64% comparison rate*)
- Lockit Fixed Rate Home Loan (5 Year): 3.79% p.a. fixed (4.18% comparison rate*)
Move Bank’s new rates are just some of the hot home loan rates around at the moment since the RBA rate cuts. For more great home loan options check out the table below: