HOME LOAN MARKET UPDATE | OCTOBER 2019
HOME LOAN MARKET UPDATE | OCTOBER 2019
In October’s market update we discuss The Reserve Bank of Australia (RBA) decision to lower the cash rate for the third time in five months from 1.0% to 0.75% and how each lender has responded. If any of your home and/or investment loans do not begin with a 3, it is a very good time to have these loans reviewed to see how much money you can save.
Unfortunately most banks/lenders failed to pass the full rate cut on. Below is an update on the amount of rate cut that banks/lenders have passed on to customers:
LENDER
Advantedge/myloan
ANZ
Auswide
Bank Of Melbourne
Bankwest
CBA
ING
Macquarie Bank
ME bank
NAB
Westpac
All Other lenders
HOME LOAN / INVESTMENT LOAN
0.15% / 0.15%
0.14% / 0.25%
0.25% / 0.25%
0.15% / 0.15%
0.13% / 0.25%
0.13% / 0.25%
0.15% / 0.15%
0.15% / 0.15%
0.15% / 0.15%
0.15% / 0.30%
0.15% / 0.15%
TBA
As always if you would like to discuss your situation, please give me a call or send me an email.
Sean
Related Post
HOME LOAN MARKET UPDATE | FEBRUARY 2020
HOME LOAN MARKET UPDATE | FEBRUARY 2020 Well no surprises earlier this month with the Reserve Bank of Australia (RBA) keeping the cash rate on hold. Interestingly, many economists are now re-forecasting and predicting the likelihood of future cash rate cuts as a...
HOME LOAN MARKET UPDATE | JANUARY 2020
HOME LOAN MARKET UPDATE | JANUARY 2020 Happy new year. I hope you enjoyed a good holiday break. January gives us an early gauge on what our clients sentiment is on the property market. Interestingly 2020 has started off as our busiest start to the year since I started...
HOME LOAN MARKET UPDATE | DECEMBER 2019
HOME LOAN MARKET UPDATE | DECEMBER 2019 The Reserve Bank Of Australia (RBA) ended 2019 by keeping the cash rate on hold for December. We have seen the cash rate drop from 1.5 percent to 0.7 percent over the past twelve months. This has seen interest rates for home and...