Banks to battle over owner occupier loans: Mozo

Banks to battle over owner occupier loans: Mozo
Banks to battle over owner occupier loans: Mozo

Twelve lenders have already made cuts to owner occupier loans, with eleven increasing rates on loans to investors, according to Mozo, who reported some 50 rate cuts in the past month.

Mozo director Kirsty Lamont said six lenders are also offering cash back deals of between $1,000 - $2,000 to refinancers.

“We’re expecting this trend of lower rates and special offers to increase as the Spring buying season ramps up through to the end of the year,” she said. 

"Cuts to owner occupier loans in the past month have averaged 12bps and make the lowest home loan rate available a competitive 3.94%. 

"Mozo data shows owner occupiers are better off to the tune of $100 per month on today’s lowest home loan rate, compared to the lowest rate one year ago (4.54%)."

According to Mozo the average owner occupier home loan rate is now 4.69%, which is 55bp lower than it was this time last year (5.24%), with investor loans averaging 4.81%, 43bp lower than this time last year.

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Banks to battle over owner occupier loans: Mozo

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Interest Rates Home Loans

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