The eight lenders that have cut variable mortgage rates since the RBA's August meeting
While the RBA held firm on the cash rate in August and September, eight lenders on the RateCity.com.au database have reduced interest rates on a total of 12 variable rate mortgage products.
The rate cuts have been introduced on a range of variable-rate products, including standard variable, basic variable, introductory variable and special variable rate offerings.
Non-bank lenders Hemisphere Financial (backed by Resimac) and Resi Mortgage Corporation have reduced rates on three of their variable-rate products.
Other lenders to reduce variable-rate offerings include Bankwest, credit union ECU Australia and non-bank lender State Custodians.
The rate cuts range from 2 basis points to 25 basis points:
Company | Product | Type | Current Rate | Rate at Aug RBA meeting |
Hemisphere | Alt Doc Loan | Standard Variable | 6.49% | 6.74% |
Hemisphere | Quickstart Loan | Standard Variable | 6.39% | 6.64% |
ECU Australia | Introductory | Intro Variable | 5.94% | 6.19% |
Hemisphere | Home Loan | Standard Variable | 6.09% | 6.34% |
RESI Mortgage | FlexiFix Pro Revert | Special/Other Variable | 6.06% | 6.27% |
Bankwest | Mortgage Shredder | Intro Variable | 5.78% | 5.98% |
Rate Busters | Ultimate | Standard Variable | 5.82% | 6.01% |
RESI Mortgage | FlexiFix Revert | Special/Other Variable | 6.06% | 6.16% |
RESI Mortgage | FlexiFix 75 Revert | Special/Other Variable | 5.96% | 6.06% |
State | Breathe Easy Offset | Basic Variable | 5.97% | 6.07% |
Homestar | No Fee Offset | Standard Variable | 6.05% | 6.10% |
IMB | Essentials | Basic Variable | 5.99% | 6.01% |
Source: RateCity.com.au