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
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